Legal analysis: M&A is one of the means to enhance the competitiveness of enterprises. Can enhance the economic strength of enterprises, so as to obtain more resources and markets. Whether a company can be reorganized shall meet the conditions stipulated in the Company Law. In principle, the suspension time shall not exceed 30 natural days. If it is really necessary to postpone the resumption of trading, the listed company may apply for an extension of the resumption of trading in accordance with the relevant provisions of this Exchange before the expiration of the suspension period, and the cumulative suspension period shall not exceed 3 months in principle. The longest time will not exceed 3 years, usually around 3 months. The situation of each company is different, and the reorganization of fabrics is also different. The merger and reorganization of listed companies is a kind of resource reorganization involving two parties or even many parties. The reorganization process needs to be submitted to the supervision department of listed companies of China Securities Regulatory Commission for review and profit approval. According to Article 31 of the Measures for the Administration of Acquisition of Listed Companies, if the purchaser fails to announce the tender offer report within 60 days after issuing the suggestive announcement of tender offer, the purchaser shall notify the acquired company on the next working day after the expiration and make an announcement; After that, it will be announced every 30 days until the tender offer report is announced. If the purchaser intends to cancel the acquisition plan by himself after making the suggestive announcement of the tender offer and before the announcement of the tender offer report, the reasons shall be announced; Within 12 months from the date of announcement, the purchaser may not acquire the same listed company again.
Legal basis: Article 173 of the Company Law of People's Republic of China (PRC), the merger of companies can take the form of absorption merger or new merger.
A company absorbs other companies as an absorption handle, and the absorbed company is dissolved. The merger of two or more companies to form a new company is a new merger, and the parties to the merger are dissolved.