TO THE DEFINITION OF THE CONCEPT «TAKEOVER»

  • Tatiana Philippova Altay state university
  • Nina Mekhanoshina Altay state university
Keywords: joint-stock company, reorganization, legal entity

Abstract

Today in periodicals, journalism and everyday life one can hear a lot of stories about the hostile takeover of a particular enterprise, about the evil raiders tearing up the Russian economy, about the powerlessness of law enforcement agencies, their corruption and much more. But do we always correctly understand the essence of the processes in question? Historically, the function of creating unified competitive business environment and maintaining order in ownership relations is assigned to the state. Failure to comply or poor performance by the state of the function of coordination of competition is the reason for the occurrence of abusive practices of property redistribution. So in Russia as elsewhere in the world these instances are usually called "takeover". What is "hostile takeover", what does this concept contain , how to treat it correctly and in what cases it can be used in academic sphere and business vocabulary. The current legislation of the Russian Federation properly discloses neither the concept of acquisitions of legal entities, nor even its content. The article deals in detail with the problems of the correlation of such concepts as mergers and acquisitions. The authors note that, both in Russia and in foreign countries, there is currently no common understanding of the terms in the legal literature. Based on the analysis of various approaches, it is concluded that, despite some similarity with such a form of reorganization as a "merger", the concept of "takeover" cannot be recognized as a form of reorganization of a legal entity. As a result of the doctrinal and normative study of these terms, the authors propose the definition of the concept of "takeover".

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DOI:https://doi.org/10.14258/leglin(2016)503

Author Biographies

Tatiana Philippova, Altay state university

Candidate of Law, Professor of the Department of Civil Law of the Altai State University

philippovata@mail.ru

Nina Mekhanoshina, Altay state university
  Graduate student of Altai State University mvp-novoalt@yandex.ru

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Published
2016-12-15
How to Cite
Philippova, T., & Mekhanoshina, N. (2016). TO THE DEFINITION OF THE CONCEPT «TAKEOVER». Legal Linguistics, (5 (16), 27-38. https://doi.org/10.14258/leglin(2016)503
Section
Language of Law