摘要
小股东合法利益的保护是强制要约收购制度的重要价值目标。收购导致公司控制权发生转移时,确保小股东自由退出公司和平等地分享控制权价值是强制要约收购制度的应有之意,但由于立法上的不足,我国强制要约收购制度在现实的收购案例中没有发挥其应有的功能。强制要约收购制度的价值一直以来都是一个争论不休的问题,就我国现状来看,强制要约收购制度是客观必要的,问题是如何规制其所产生的负面影响。
Legal protection of minor shareholders' rights is an important value objective of system of compulsive offer of stock acquisition. When the power of corporate control was devolved, the system of compulsive offer of stock acquisition should ensure minor shareholders to withdraw freely from the company and to enjoy the interests equally, but the shortcomings of legislation result in the failure of the system in practice. The value of the compulsive offer of stock acquisition has always been a controversial question. From the reality of our country, the system of compulsive offer of stock acquisition is necessary and the problem is how to prevent the negative influences.
关键词
强制要约收购
控制权价值
小股东
Compulsive offer of stock acquisition
Controlling interest
Minor shareholders
