A vice - president of a securities and investment firm was arrested by for allegedly soliciting 2 million for persuading a client to sell his shares in a listed company to facilitate its hostile takeover by an investment management company 廉政公署拘捕一名证券投资公司副总裁，怀疑他索取二百万元，以游说一名客户出售其所持有一间上市公司的股份，致使一间投资管理公司对该上市公司进行敌意收购。
Anti - takeover has rationality and it has negative effect as well . the approach to the takeover gets rise to our attitude to the anti - takeover . the legislation should set strict limits on anti - takeover , and make allowance for unfavorable occurrences 反收购与敌意收购相伴相生,反收购内在的合理性与负面效应并存,而对公司收购的立法价值取向的选择,决定了对反收购的立法态度是对其进行严格的控制并对其留有适当的发展空间。
Although the approach ? which valued rio tinto at ? 68 . 8bn ( $ 145bn ) , excluding debt ? was rejected out of hand , bhp is thought to be ready for a protracted campaign and analysts predicted it would go hostile if necessary 尽管必和必拓此次接洽（将收购力拓的价格定在688亿英镑(合1450亿美元) ，其中不包括债务）立即遭到了拒绝，但外界认为，必和必拓为一次长期的行动做好了准备，同时分析师预计，如果必要的话，该公司可能转而进行敌意收购。
Buyers ( management ) can get profit from the raising of companies performance and the underestimated prices , avoid hostility acquisition , satisfy the needs of carving out business ; seller ( shareholder ) can reach the purpose of reducing agency cost , incent and restrict the management , peel off assets and change public - owned departments to private departments 买方管理层可以获得来自公司经营业绩的提高和企业价值被低估的收益，避免被敌意收购，满足创业的需要；卖方股东可以达到降低代理成本、激励和约束管理层、剥离资产和公营部门私有化的目的。
This article traces the histories and theories of takeover and anti - takeover overseas . then , combined with the actuality of china , it draws a conclusion that hostile takeover has great limitations and it is necessary to strengthen the anti - takeover abilities of listed companies in china and improve the anti - takeover system 本文通过对国外公司收购与反收购历史的比较分析和相关理论的回顾，并结合我国实际情况，论证了敌意收购存在的重大局限，指出我国当前亟待提高上市公司的反收购能力及完善相关的反收购制度。
The mbo is usually used by foreign listed companies in business divestiture , spin - off , anti - hostile acquisition , as well as by diversified parent companies when in need for raising cash in order to avoid financial crisis or to divest their subsidiaries , therefore it is purely market - oriented 国外上市公司一般在分拆业务、剥离资产、反敌意收购以及多元化经营的母公司为避免财务危机和筹集现金从而剥离子公司等情况下实施管理层收购，因此mbo在西方完全是一种市场化行为。
The international competitiveness of us companies declined and american scholars tried to find differences from germany and japan in corporate govemance . stockholders were unsatisfied with the high - level management rewards especially when the rewards were unrelated with the performance of the enterprise . a surge of corporate mergers swept the us nation wide , in which the hostile buying harmed the stocanolders " interest 这一高潮的实践背景在于：美国企业国际竞争力下降，美国学者在公司治理上与德日找差距；股东普遍对经理人员与日俱增的高报酬感到不满，特别是经理人员的报酬并不总是与公司盈利的增长挂钩；兼并浪潮遍及全美，大量敌意收购损害了股东利益。
Based on the corporation govern theory and the market control theory , this article have a discussion on situations of the corporation govern structure in china . it reveals that hostile takeover is the important way of external supervision . and it sets forth that our legislation attitude towards the takeover is encouragement 本文从公司治理理论和市场控制权理论出发,着重论述了我国公司治理结构的状况,揭示出敌意收购是对公司治理进行外部监督的重要手段,阐明我国立法对公司收购采取鼓励态度的价值取向。
Buyers ( management ) can get profit from the raising of companies performance and the underestimated prices , avoid hostility acquisition , satisfy the needs of carving out business ; seller ( shareholder ) can reach the purpose of reducing agency cost , incenting and restricting the management , peeling off assets and changing public - owned departments to private departments 买方管理层可以获得来自公司经营业绩的提高和企业价值被低估的收益，避免被敌意收购，满足创业的需要；卖方股东可以达到降低代理成本、激励和约束管理层、剥离资产和公营部门私有化的目的。
In module ii , we look at a variety of complications , including those that arise in the friendly or unfriendly purchase of a publicly - held company ; deals involving distressed and hi - tech companies ; antitrust concerns ; allegations of misconduct by management or board members ; and deals involving non - u . s . companies 在第二单元中，我们将看到各种不同的复杂交易类型，包括对于公开发行公司之善意或敌意收购、涉及财务困难公司或高科技公司之交易、反托拉斯法之考量、对经理人或董事会不当行为之指控及涉及外国公司之交易。
