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2006年3月29日新日铁公司宣布,公司董事会已经正式通过《重大股权收购公平准则(并购防御措施)》,并对由该计划详细阐述的股票认购权证进行有关的“橱柜式注册”。近年来,由于股票急剧的大规模积聚,使日本资本市场愈来愈脆弱,而这是在股东和相关机构未充分知情的情况下发生的,这就可能会损害并购目标公司的价值和该公司股东的共同利益。因此,新日铁公司认为,如果有人提出收购方案,是否接受该方案应由在该方案提出时的新日铁股东做出最终决定。此外,当并购方案被提出时,为了保持公司的价值和股东的共同利益,有必要创造一种环境,以使新日铁的股东能在掌握足够信息,并有适当考虑时间的基础上,做出知情的判断。在外资企业已进入中国,兼并重组方兴未艾的情况下,如何防范敌意收购,也是我国钢铁企业要考虑的问题。现将新日铁公司的《重大股权收购公平准则(并购防御措施)》介绍如下,希望我国钢铁企业能够有所借鉴。
March 29, 2006 Nippon Steel Corporation announced that the board of directors of the company has formally approved the “Fair Equity Purchase M & A Guidelines (M & A Defensive Measures)” and will conduct “cabinet registration” of the stock warrants elaborated by the plan. In recent years, Japan’s capital markets have become increasingly vulnerable as a result of the sharp stockpiles of stocks, which have taken place without the full knowledge of shareholders and related agencies, which could undermine the value of the target companies and the company Common interests of shareholders. Therefore, Nippon Steel Corporation believes that if anyone proposed the acquisition program, whether to accept the program should be made at the time of the program Nippon Steel shareholders to make the final decision. In addition, in order to maintain the value of the company and the common interests of shareholders when the merger proposal is made, it is necessary to create an environment in which the Nippon Steel shareholders can, on the basis of having enough information available and with due consideration of the time, Out informed judgment. Under the situation that foreign-funded enterprises have entered into China and mergers and acquisitions are in the ascendant, how to prevent hostile takeovers is also a problem to be considered by China’s iron and steel enterprises. The Nippon Steel Corporation now “equity acquisition fairness criteria (M & A defensive measures)” introduced below, I hope our steel companies can learn from.