China to see fewer new projects but more M&A; despite China's legal obstacles, more foreign investment will be driven toward existing assets
Article Abstract:
China is the Asian country least affected by the region's economic crisis of the late 1990s, its currency has not been devalued and growth in the Chinese economy is forecast at 4 to 7% for 1998. Mergers and acquisitions are happening despite asset pricing above the bargain-basement level of other Asian countries. Many Chinese enterprises will be merged as part of the restructuring of its state-run enterprises, yet, the regulatory regime remaining is a hindrance to such mergers. The Ministry of Foreign Trade and Economic Cooperation administers this regime.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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Law keeps fox from hen house
Article Abstract:
The 4th Circuit has upheld VA's novel anti-takeover statutes in the case of Tyson Foods' hostile bid for regional poultry producer WLR Foods. The decision finding VA's corporation law constitutional suggests the state may now be an attractive alternative to DE for incorporation. The law includes three anti-takeover statutes: one validating poison pills, one that limits the voting rights of recently acquired shares, and one that makes it hard to acquire all the taarget's shares for three years after the tender offer.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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Complex rules govern going-private transactions: companies should consider the Canadian legal mechanics before taking their subsidiaries private
Article Abstract:
US parent companies have in recent years shown an increasing tendency to buy the outstanding minority shares of their Canadian public subsidiaries, taking the latter private. Going-private transactions (GPTs) in Canada are governed by elaborate federal and provincial regulations, especially those of the Ontario and Quebec securities commissions. Independent valuations, the formation and activities of a special committee, shareholder approval, and rights of dissent are considered.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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