TOB TOB TOB 2000 TOB LSE2000 11 OMTOB LSE M&A TOB 12
1 2 3 1999 3440801990 1998 52690 54 4 100 1 2 3 4 BP 20001043 Business Research 200069 200112 JP 13
TOB 1999 C&WIDC TOB 5 NTT 97.7 C&W 17.7IDC TOBNTT 6 2000 TOB 19.6 35.9 775 1100 1996 7 30.8 TOB 8 C&W 5 6 7 8 1999140 144 20001463 642000133 135 14
15 PBR 10 9 1998 12 10 PBR200088 1999 IAS SFAS 9 2001 TOB
TOB 11 TOB 12 13 2060 TOB 1997 11 2001 45 12 13 16
17 TOB TOB 2001 45 46 TOB TOB TOB TOB TOB
TOB TOBLSE 14 15 M&A M&A TOB 1997 76 1997 TOB 16 1997 71 1999 77 1998 1/3 75 1994 800 M&A M&A 17 1999 14 15 16 17 Mannesmann Press Release Vodafone Press Release BBC news 1998TOB 2000132 1998M&A195145 20002287 18
2001 18 200 19 20 M&A GSM 21 1985 1999 J 22 115 1990 1999 10 19 11 13 18 19 20 21 22 2001 20022005 W-CDMA cdma2000 200128 19
20 23 1999 12 17 12 24 TOB TOB 83 180019 300CP 11 23
21
22 TOB TOB53.7 58.96 TOB46 50 15 4.4953.7 209 24 TOB 25 7.00 24 1999 2000 120 25 1999 12 2710
23 26 27 TOB AOL 28 26 KDDR&A 200035 27 28 1999 12 8
SFR 13 10 40 32 29 68 50 10 30 15 10 3 1 29 30 31 2000 24 200026 26 24
32 TOB LSE ECN ECN 33 ECN 10 GEM ECN 34 M&A 2000 ECN 2000 35 LSE 2000OM LSE TOB LSE APCIMS=Association of Private Client Investment Managers and Stockbrokers SCMC=Smaller Companies Markets Committee OM City Code 32 33 34 35 London Stock Exchange Press Release OM Group Press Release BBC news 20002058 59 2001 2001 The Race to Create a Pan European Stock MarketBusiness Week September,11,2000 25
26 TOB TOB 1993 959 LSE 200 2000 OM 1985 1998 LSEOM TOB LSE APCIMS LSE OM 2000
OM LSE 36 OM LSE 20 OM 27 LSE 2523.5 36 A Swedish Surprise (int l edition)business Week September,11,2000 27
28 37 2000 10 15.7 15.7TOB10 30 OM 8.08 17.1 IT OM LSE OM IT OM 4.9 4.9 OM 3 7
29 2001 84 85 LSE APCIMS APCIMS150 LSE17 UBS OM IT OM 6.7 OM LSEOM TOB APCIMS 2001 CEO
30 TOB 1997 M&A M&A 2000 114 115 15 TOB TOB OM LSETOB OM OM 166IT TOB LSE OM IT TOB 68 50 32
1 44.5 2 42.940 38 2000 12.4 39 18 40 38 39 40 2000 11 IR2001 30 31
LSE2000 LSE TOB OM 0.5 10 32
2 41 LSE City Code 1960 1997 241 19 AND TOB LSETOB 41 M&A IPO2000 5 1 1 33
IT OM IT LSE 42 TOB 4 3 TOB 44 1997 129 130 TOB 42 43 44 TOB Bradley, Desai & Kim TOBNo.1557 20001510 34
LSE Jenkinson, Tim & Mayer, Colin P. Hostile takeovers: defence, attack, and corporate governance, McGraw-Hill Book Co. c1994 TOB 2001 M&A21 2000 TOB M&A 1993 Vol.21, No.8 1999 2000 M&A 149 2001 TOB M&A21 1994M&A Vol.54 No.1 1997 M&A 35