合并与收购的主要区别_合并与股权收购的比较

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合并与收购的主要区别是：

1．主体不同。公司合并是公司间的行为，主体是参加合并的各公司。公司合并要由参加合并的各公司作出决议，要有合并各方公司签订协议。股权收购是收购公司与目标公司的股东之间的交易行为，主体是收购公司与目标公司股东。

Different participants

Participants who were invovled in merger were companies.All the companies in this merger transaction should agree and sign an agreement.Participants who were invovled in acquisition were shareholders of acquirer company and that of target company, the main body are shareholders.2、效力不同。

合并中，被合并企业放弃法人资格并转让产权，合并方接收产权、义务和责任，合并中参与合并的企业或被合并企业就将丧失原有的法人资格；而收购中，被收购企业作为经济实体仍然存在，被收购方仍具有法人资格，收购方只是通过控股掌握了该公司的部分所有权和经营决策权。

Different effectivene.For Merger, one company of merging parties would lost its qualification of a legal person.Beside, target company should transfer its property, obligations and

responsibilities to its counter party.For acquisition, both companies still exist as an economic entity and still have legal personality.The acquirer could control part of target company's ownership and its decision-making power by holding its equity.3、权利义务的承担也不同

合并中，原所有者将原资产、债权、债务一并转移，合并方成为企业资产的新所有者及债务承担者。而收购中，收购企业作为被收购企业的新股东，对被收购企业的原债务不负连带责任，其风险责任仅以控股出资的股金为限。

Different rights and obligations

For merger, the original owner transfer all its aets and debts, the merging party become new owner of these aets and debts.For acquisition, as a new shareholder of the acquiree, the acquirer don’t take joint responsibility of the acquiree’s original debts.All money an acquirer could lost is limited to the money paid for shares.4、控制程度不同。

公司合并中，被并公司完全并入合并公司或新设公司，后者取得被并公司的全部财产、权利义务，被并公司作为合并公司、新设公司的一部分而完全受其控制。股权收购中，收购方既可以收购目标公司的全部股份，进而完全控制目标公司，也可以只收购的目标公司50%以上的股份，而取得对目标公司的控制权，实现拥有控制权下的“合资经营”。

Different control degree

For merger, the merging party must get 100% shares of its target company.Hence, the target company is under full control.For acquisition, the acquirer can either buy all the shares of its target company and fully control it, or can only buy more than 50% of target company’s shares to control it.