{"id":67659,"date":"2024-04-10T16:02:44","date_gmt":"2024-04-10T07:02:44","guid":{"rendered":"https:\/\/monolith.law\/zh-tw\/?p=67659"},"modified":"2024-05-13T14:16:12","modified_gmt":"2024-05-13T05:16:12","slug":"ma-merit-demerit-procedure","status":"publish","type":"post","link":"https:\/\/monolith.law\/zh-tw\/general-corporate\/ma-merit-demerit-procedure","title":{"rendered":"\u89e3\u91cb\u7528\u65bc\u516c\u53f8\u51fa\u552e\u7684M&amp;A\u5176\u7a0b\u5e8f\u4ee5\u53ca\u512a\u9ede\u548c\u7f3a\u9ede"},"content":{"rendered":"\n<p>\u5728\u5275\u696d\u516c\u53f8\u4e2d\uff0c\u6295\u8cc7\u56de\u6536\uff08\u901a\u5e38\u88ab\u7a31\u70baEXIT\uff09\u7684\u624b\u6bb5\uff0c\u50b3\u7d71\u4e0a\u4e3b\u8981\u662f\u900f\u904e\u516c\u958b\u767c\u884c\u80a1\u7968\uff08IPO\uff09\u3002<\/p>\n\n\n\n<p>\u7136\u800c\uff0c\u8fd1\u5e74\u4f86\uff0c\u4e26\u975e\u6240\u6709\u7684\u516c\u53f8\u90fd\u4ee5\u516c\u958b\u767c\u884c\u80a1\u7968\u70ba\u76ee\u6a19\uff0c\u9078\u64c7\u5728\u975e\u4e0a\u5e02\u7684\u60c5\u6cc1\u4e0b\u900f\u904eM&amp;A\u51fa\u552e\u516c\u53f8\u7684\u7d93\u71df\u8005\u4e5f\u5728\u589e\u52a0\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u672c\u6240\u5c07\u70ba\u8003\u616e\u51fa\u552e\u516c\u53f8\u7684\u7d93\u71df\u8005\u8a73\u7d30\u89e3\u91cbM&amp;A\u7684\u512a\u9ede\u548c\u7f3a\u9ede\uff0cM&amp;A\u7684\u6d41\u7a0b\uff0c\u4ee5\u53ca\u61c9\u8a72\u59d4\u8a17\u5f8b\u5e2b\u9032\u884c\u7684\u7a0b\u5e8f\u7b49\u3002<\/p>\n\n\n\n<div 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ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/zh-tw\/general-corporate\/ma-merit-demerit-procedure\/#%E6%B3%95%E5%8B%99%E7%9B%A1%E8%81%B7%E8%AA%BF%E6%9F%A5\" title=\"\u6cd5\u52d9\u76e1\u8077\u8abf\u67e5\">\u6cd5\u52d9\u76e1\u8077\u8abf\u67e5<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/monolith.law\/zh-tw\/general-corporate\/ma-merit-demerit-procedure\/#%E7%B8%BD%E7%B5%90\" title=\"\u7e3d\u7d50\">\u7e3d\u7d50<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A%E8%88%87%E5%85%AC%E5%8F%B8%E5%87%BA%E5%94%AE\"><\/span>M&amp;A\u8207\u516c\u53f8\u51fa\u552e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>M&amp;A\u662fMergers and 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id=\"%E5%89%B5%E6%A5%AD%E8%80%85%E5%8F%AF%E4%BB%A5%E5%98%97%E8%A9%A6%E5%85%B6%E4%BB%96%E6%A5%AD%E5%8B%99\"><\/span>\u5275\u696d\u8005\u53ef\u4ee5\u5617\u8a66\u5176\u4ed6\u696d\u52d9<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2021\/03\/ma-merit-demerit-procedure2.jpg\" alt=\"\" class=\"wp-image-31428\" \/><\/figure>\n\n\n\n<p>\u6b64\u5916\uff0c\u9032\u884cM&amp;A\u6642\uff0c\u8ce3\u65b9\u516c\u53f8\u7684\u4ee3\u8868\u4eba\u53ef\u4ee5\u8f15\u6613\u5730\u5728\u516c\u53f8\u51fa\u552e\u7684\u540c\u6642\u8fad\u8077\u3002<\/p>\n\n\n\n<p>\u5275\u696d\u8005\u627e\u5230\u65b0\u7684\u696d\u52d9\u9818\u57df\uff0c\u4e26\u5e0c\u671b\u5728\u53e6\u4e00\u5bb6\u516c\u53f8\u958b\u5c55\u65b0\u696d\u52d9\u7684\u60c5\u6cc1\u4e26\u4e0d\u5c11\u898b\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u5373\u4f7f\u662f\u8667\u640d\u7684\u516c\u53f8\uff0c\u53ea\u8981\u6709\u672a\u4f86\u7684\u53ef\u80fd\u6027\uff0c\u5275\u696d\u8005\u53ef\u4ee5\u900f\u904e\u80a1\u6b0a\u8f49\u8b93\u7684\u65b9\u5f0f\u9032\u884cM&amp;A\u51fa\u552e\u516c\u53f8\uff0c\u4e26\u5f9e\u4e2d\u7372\u5f97\u8ce3\u51fa\u7684\u91d1\u984d\uff0c\u9019\u7b46\u8cc7\u91d1\u4e5f\u53ef\u4ee5\u6295\u5165\u65b0\u7684\u696d\u52d9\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%88%A9%E7%94%A8M_A%E7%9A%84%E7%BC%BA%E9%BB%9E\"><\/span>\u5229\u7528M&amp;A\u7684\u7f3a\u9ede<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul>\n<li>\u5275\u696d\u8005\u53ef\u80fd\u7121\u6cd5\u638c\u63e1\u516c\u53f8\u7684\u4e3b\u5c0e\u6b0a<\/li>\n\n\n\n<li>\u53ef\u80fd\u88ab\u4f4e\u4f30\u516c\u53f8\u50f9\u503c\uff0c\u76f8\u8f03\u65bc\u9996\u6b21\u516c\u958b\u52df\u80a1\uff08IPO\uff09<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%89%B5%E6%A5%AD%E8%80%85%E5%8F%AF%E8%83%BD%E7%84%A1%E6%B3%95%E6%8E%8C%E6%8F%A1%E5%85%AC%E5%8F%B8%E7%9A%84%E4%B8%BB%E5%B0%8E%E6%AC%8A\"><\/span>\u5275\u696d\u8005\u53ef\u80fd\u7121\u6cd5\u638c\u63e1\u516c\u53f8\u7684\u4e3b\u5c0e\u6b0a<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u5982\u679c\u5275\u696d\u8005\u5e0c\u671b\u5728\u516c\u53f8\u51fa\u552e\u7684\u540c\u6642\u8fad\u8077\uff0c\u90a3\u9ebc\u9019\u4e26\u4e0d\u662f\u554f\u984c\u3002\u4f46\u662f\uff0c\u5982\u679c\u4ed6\u5011\u5e0c\u671b\u7559\u5728\u516c\u53f8\u64d4\u4efb\u8463\u4e8b\uff0c\u90a3\u9ebc\u9032\u884cM&amp;A\u5c31\u5b58\u5728\u98a8\u96aa\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u900f\u904e\u80a1\u6b0a\u8f49\u8b93\u5c07\u516c\u53f8\u7684\u5168\u90e8\u63a7\u5236\u6b0a\u8f49\u79fb\u7d66\u8cb7\u65b9\u516c\u53f8\uff0c\u5247\u8cb7\u65b9\u516c\u53f8\u53ef\u4ee5\u81ea\u884c\u6c7a\u5b9a\u89e3\u8058\u8ce3\u65b9\u516c\u53f8\u7684\u8463\u4e8b\u7b49\u9ad8\u7d1a\u7ba1\u7406\u4eba\u54e1\u3002\u56e0\u6b64\uff0c\u5275\u696d\u8005\u7b49\u4eba\u5728\u516c\u53f8\u51fa\u552e\u5f8c\u662f\u5426\u80fd\u7559\u5728\u516c\u53f8\u4e26\u7121\u4fdd\u8b49\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%8F%AF%E8%83%BD%E8%A2%AB%E4%BD%8E%E4%BC%B0%E5%85%AC%E5%8F%B8%E5%83%B9%E5%80%BC\"><\/span>\u53ef\u80fd\u88ab\u4f4e\u4f30\u516c\u53f8\u50f9\u503c<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2021\/03\/ma-merit-demerit-procedure3.jpg\" alt=\"\" class=\"wp-image-31429\" \/><\/figure>\n\n\n\n<p>\u6b64\u5916\uff0c\u9032\u884cM&amp;A\u51fa\u552e\u516c\u53f8\u6642\uff0c\u8ce3\u50f9\u662f\u7531\u8cb7\u65b9\u516c\u53f8\u8207\u8ce3\u65b9\u516c\u53f8\u9032\u884c\u8ac7\u5224\u6c7a\u5b9a\u7684\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u8cb7\u65b9\u516c\u53f8\u9ad8\u5ea6\u8a55\u50f9\u8ce3\u65b9\u516c\u53f8\u7684\u672a\u4f86\u6f5b\u529b\uff0c\u6216\u8005\u9810\u671f\u6709\u5354\u540c\u6548\u61c9\uff0c\u5247\u53ef\u80fd\u6703\u6bd4IPO\u66f4\u9ad8\u5730\u4f30\u8a08\u516c\u53f8\u50f9\u503c\u3002<\/p>\n\n\n\n<p>\u7136\u800c\uff0c\u53cd\u904e\u4f86\u8aaa\uff0c\u4e5f\u6709\u53ef\u80fd\u88ab\u4ee5\u4f4e\u65bcIPO\u7684\u50f9\u683c\u58d3\u4f4e\u3002\u56e0\u6b64\uff0c\u5982\u679c\u8003\u616e\u9032\u884cM&amp;A\u51fa\u552e\u516c\u53f8\uff0c\u5247\u61c9\u4e8b\u5148\u8a2d\u5b9a\u4e00\u500b\u57fa\u6e96\uff0c\u4ee5\u78ba\u5b9a\u51fa\u552e\u516c\u53f8\u7684\u7d93\u6fdf\u5408\u7406\u6027\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%80%8F%E9%81%8EM_A%E9%80%B2%E8%A1%8C%E5%85%AC%E5%8F%B8%E5%87%BA%E5%94%AE%E7%9A%84%E6%96%B9%E6%B3%95\"><\/span>\u900f\u904eM&amp;A\u9032\u884c\u516c\u53f8\u51fa\u552e\u7684\u65b9\u6cd5<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u672c\u6240\u5c07\u8aaa\u660e\u900f\u904eM&amp;A\u9032\u884c\u516c\u53f8\u51fa\u552e\u7684\u7a0b\u5e8f\uff0c\u4ee5\u53ca\u5f8b\u5e2b\u7684\u53c3\u8207\u65b9\u5f0f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9C%A8M_A%E4%B8%AD%E6%89%80%E9%9C%80%E7%9A%84%E5%90%88%E7%B4%84%E8%88%87%E7%A8%8B%E5%BA%8F\"><\/span>\u5728M&amp;A\u4e2d\u6240\u9700\u7684\u5408\u7d04\u8207\u7a0b\u5e8f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u900f\u904eM&amp;A\u51fa\u552e\u516c\u53f8\u6642\uff0c\u901a\u5e38\u6703\u6309\u7167\u4ee5\u4e0b\u7684\u6d41\u7a0b\u9032\u884c\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B0%BD%E8%A8%82%E4%BF%9D%E5%AF%86%E5%8D%94%E8%AD%B0\"><\/span>\u7c3d\u8a02\u4fdd\u5bc6\u5354\u8b70<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u4e00\u65e6\u8ce3\u65b9\u548c\u8cb7\u65b9\u5019\u9078\u4eba\u78ba\u5b9a\uff0c\u4e26\u958b\u59cb\u5177\u9ad4\u8003\u616e\u9032\u884cM&amp;A\uff0c\u9996\u5148\uff0c\u5169\u5bb6\u516c\u53f8\u4e4b\u9593\u6703\u7c3d\u8a02\u4fdd\u5bc6\u5354\u8b70\u3002<\/p>\n\n\n\n<p>M&amp;A\u7684\u8003\u616e\u904e\u7a0b\u5c0d\u65bc\u96d9\u65b9\u516c\u53f8\u4f86\u8aaa\u662f\u9ad8\u5ea6\u6a5f\u5bc6\u7684\u4fe1\u606f\u3002\u5728\u6700\u7d42\u9054\u6210\u516c\u53f8\u51fa\u552e\u5354\u8b70\u4e4b\u524d\uff0c\u901a\u5e38\u53ea\u6709\u7ba1\u7406\u5c64\u548c\u90e8\u5206\u8ca0\u8cac\u54e1\u5de5\u77e5\u9053\u6b63\u5728\u9032\u884cM&amp;A\u7684\u8003\u616e\uff0c\u5c0d\u4e00\u822c\u54e1\u5de5\u4f86\u8aaa\uff0c\u9019\u662f\u79d8\u5bc6\u7684\u3002<\/p>\n\n\n\n<p>\u7279\u5225\u662f\u7576\u8ce3\u65b9\u516c\u53f8\u6216\u8cb7\u65b9\u516c\u53f8\u662f\u4e0a\u5e02\u516c\u53f8\u6642\uff0c\u9019\u5c07\u6210\u70ba\u5167\u90e8\u4fe1\u606f\uff0c\u56e0\u6b64\u5fc5\u9808\u7d55\u5c0d\u907f\u514d\u4fe1\u606f\u6d29\u9732\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u53ea\u6709\u5728\u7c3d\u8a02\u4fdd\u5bc6\u5354\u8b70\u5f8c\uff0c\u8ce3\u65b9\u516c\u53f8\u548c\u8cb7\u65b9\u516c\u53f8\u624d\u6703\u4e92\u76f8\u516c\u958b\u516c\u53f8\u540d\u7a31\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B0%BD%E8%A8%82%E5%9F%BA%E6%9C%AC%E5%8D%94%E8%AD%B0%E6%9B%B8\"><\/span>\u7c3d\u8a02\u57fa\u672c\u5354\u8b70\u66f8<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u4e00\u65e6\u8cb7\u65b9\u516c\u53f8\u6b63\u5f0f\u6c7a\u5b9a\u9032\u884cM&amp;A\uff0c\u8cb7\u65b9\u516c\u53f8\u5c07\u5411\u8ce3\u65b9\u516c\u53f8\u767c\u51fa\u300c\u610f\u5411\u66f8\u300d\u3002<\/p>\n\n\n\n<p>\u63a5\u53d7\u6b64\u610f\u5411\u66f8\u5f8c\uff0c\u5982\u679c\u8ce3\u65b9\u516c\u53f8\u8868\u793a\u9858\u610f\u9032\u884c\u516c\u53f8\u51fa\u552e\u7684\u8ac7\u5224\uff0c\u5247\u5169\u5bb6\u516c\u53f8\u5c07\u7c3d\u8a02\u95dc\u65bc\u9032\u884cM&amp;A\u8003\u616e\u7684\u57fa\u672c\u5354\u8b70\u66f8\u3002\u57fa\u672c\u5354\u8b70\u66f8\u5c07\u660e\u78ba\u8a18\u8f09\u8ce3\u65b9\u516c\u53f8\u548c\u8cb7\u65b9\u516c\u53f8\u5c07\u9032\u884cM&amp;A\u8003\u616e\u7684\u4e8b\u5be6\u3002<\/p>\n\n\n\n<p>\u7136\u800c\uff0c\u9019\u7a2e\u95dc\u65bc\u9032\u884cM&amp;A\u8003\u616e\u7684\u5354\u8b70\u90e8\u5206\u901a\u5e38\u88ab\u8996\u70ba\u6c92\u6709\u6cd5\u5f8b\u7d04\u675f\u529b\u7684\u7d33\u58eb\u5354\u8b70\u3002\u56e0\u6b64\uff0c\u5373\u4f7f\u6700\u7d42\u672a\u80fd\u9054\u6210M&amp;A\u5354\u8b70\uff0c\u7576\u4e8b\u4eba\u901a\u5e38\u4e5f\u4e0d\u9700\u8981\u627f\u64d4\u640d\u5bb3\u8ce0\u511f\u7b49\u8cac\u4efb\u3002<\/p>\n\n\n\n<p>\u95dc\u65bcM&amp;A\u4e2d\u57fa\u672c\u5354\u8b70\u66f8\u7684\u689d\u6b3e\u7bc4\u4f8b\u548c\u6cd5\u5f8b\u7d04\u675f\u529b\uff0c\u672c\u6240\u5728\u4ee5\u4e0b\u7684\u6587\u7ae0\u4e2d\u9032\u884c\u4e86\u8a73\u7d30\u7684\u89e3\u91cb\u3002<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith-law.jp\/corporate\/ma-lawyer-basic-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith-law.jp\/corporate\/ma-lawyer-basic-agreement[ja]<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%A1%E8%81%B7%E8%AA%BF%E6%9F%A5%E5%88%B0%E7%B0%BD%E8%A8%82%E6%9C%80%E7%B5%82%E5%90%88%E7%B4%84\"><\/span>\u76e1\u8077\u8abf\u67e5\u5230\u7c3d\u8a02\u6700\u7d42\u5408\u7d04<span 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