tender shares 中文意思是什麼
tender shares
解釋
投標股-
Legally, tender offer is the transaction of stock shares between offerors and the shareholders of target corporation, but which enshrouds the fact that major shareholders manipulate the deal. however, minor shareholders always find themselves in an unequal and disadvantageous position
要約收購雖然在法律關繫上表現為收購者與目標公司的股東雙方當事人所進行的股票交易行為，但在這種形式的背後則掩蓋著大股東操縱交易的事實。 -
If mittal manages to buy more than 50 % of arcelor shares by the time the tender offer expires, the severstal deal will fall through
如果米塔爾在標購到期之前能夠收購阿塞洛超過50 %的股票，阿塞洛與謝韋爾的合併案就會化為泡影。 -
The only effective way for arcelor shareholders to protest the proposed merger with severstal is to sell their shares to mittal by july 5th, when its tender offer expires
阿塞洛股東能夠阻止與謝韋爾鋼鐵合併案最有效的方式，就是在7月5日標購到期之前將手中持有的股票出售給米塔爾。 -
One hand, offerors often abuse their preponderances to discriminate, coerce and elbow out minor shareholders, although they provide the opportunity of transferring shares at a high price for minor shareholders ; on the other hand, even this opportunity may be probably plundered by virtue of anti - takeover measures implemented by target corporation. minor shareholders " interests take a lot risks and is endangered by uncertainties during the tender offer and anti - takeover
而少數股東始終處於弱勢地位，一方面盡管收購者為目標公司的股東提供了高價出售股票的機會，但在交易中他會經常利用某種優勢歧視、逼迫、排擠少數股東；另一方面目標公司所採取的反收購措施也極有可能使中小股東坐失出售股票獲得高溢價的良機。 -
Whether there are legislation or regulations which allow dealings in stock and shares not being transacted with " legal tender in cash "
有否法例或規例容許以非「真金白銀」買賣股票？ -
Minority shareholders " interest protection should be greatly emphasised in the acquisition by agreement, and the western countries such as the united states successfully set up a lot of rules to achieve that goal, which can benefit us a lot. firstly, before the controlling shareholder decides to sell his control, he has the responsibility to carefully investigate the purchaser in case the company will be looted later, and the controlling shareholder should be liable for his negligence of this. secondly, generally speaking the control premium is owned by the controlling shareholder and can only be shared by other shareholders in relatively restricted situations. finally, mandatory tender offer system enables the minority shareholders to sell their shares at a fair price when there is a sale of control, and this goal can only be achieved by setting strict and sound rules to govern the contents the offer especially in the price and the number of shares to be qcquired
首先，控股股東出讓其股份時應當承擔適當謹慎的義務來對收購者進行相關的調查，以避免股份受讓者將來對公司進行「掠奪」 ，如果該控股股東未盡到此項義務而造成公司遭受「掠奪」則應當承擔相應的損害賠償責任。然後，公司控制權交易中所產生的「控股溢價」原則上應該歸控股股東所享有，只有在少數情況下才由全體股東共同享有。最後，強制性收購要約制度是在公司控制權發生轉移后所賦予中小股東的退出該公司的機制，但是只有對此項制度進行完整、嚴格的規定才能達到保護中小股東利益的立法目的。 -
But the reform of non - tradable shares has carried on from may, 2005, the division between tradable and non - tradable shares will eliminate, which will result in the foundation of the market - driven system. the behavior of listed companies ’ tender offer, therefore, will experience the profound transform
而隨著全流通改革的逐步推進，流通股與非流通股的界限消除，資本市場的格局逐漸規范化，要約收購市場化基礎的建立，中國上市公司要約收購行為必然會發生重大變革。
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