企业并购与公众利益

国外对企业并购的动机有多种论说,该文探讨其中企业并购扩展市场势力的动因和对社会公众利益的影响。欧盟美国对企业并购能形成对市场的垄断和卡特尔地位已达成共识,并通过立法手段来规范企业并购活动。他们的并购法规和实施办法对中国制定并购法有一定的借鉴意义。

Merger Theory and Public Interest

A number of main economic theories explain the motives behind merger activities. This paper discusses the motive that merger may be a means of extending market power to significantly impact on "public interest". The UK, the USA and EU have the common understanding that merger could create monopoly and cartel positions, and have sought to regulate merger activity through legislation. The review of the experience of the UK and the US in dealing with merger activity may be useful for China to consider its increasing domestic merger cases and a necessity to push the merger legislation.