| Summary: | 碩士 === 世新大學 === 法律學研究所(含碩專班) === 103 === Over the past decade, the rise of international M & A activities and the government to open up foreign investment in Taiwan, with Taiwan enterprises have a good system, benefits and other incentives to draw in favor of international private equity funds. International private equity funds will also used Management Buy-outs ( Hereinafter refer as MBO ) as the acquisition of means to invest in Taiwan, but Taiwan's M&A practice is relatively unfamiliar to the MBO. Coincidentally, China in 2000 due to state-owned enterprise reform and privatization of state-owned enterprises also set off a wave of MBO. However, the MBO's development in Taiwan and Mainland China has different backgrounds. In order to distinguish the similarities and differences between the MBO in Taiwan and Mainland China, this is necessary to learn the birthplace of the MBO in both America and England to analyze the characteristics of the MBO between Taiwan and Mainland China.
First, in the chapter 1, we have motivation, purpose, range and framework in our research. In the chapter 2, this paper defines, describes what the MBO is, and analyzes the issue that MBO development in United States. On the other hand, it has to clarify the background, the formation of the MBO; otherwise, we explain the difficulties that MBO in Mainland China faced by research the cases in the chapter 3. Similarly, in the chapter 4, we will do the same research in Taiwan. In the chapter 5, there are same issues that arise from United States, Taiwan and Mainland China to analyze, and moreover they mainly focus on three issues that are conflict of interest, fair price, and information disclosure. Finally, the conclusions and recommendations in the chapter 6, this paper will refer to the regulation about the MBO in United States and give some advice and solution to the MBO in Taiwan.
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