法律類國考
108年
[司法官第一試] 綜合法學(二)(公司法、保險法、票據法、證券交易法、強制執行
第 61 題
John is the CEO and chairman of ABC Corp. He entered into an agreement to merge his company with XYZ Corp. In return, shareholders of ABC will receive XYZ shares as payment, which have a slightly higher market value. One of the following procedures is the least likely to apply in this scenario. Please identify it.
- A Both boards need to call a meeting properly and approve this transaction.
- B Shareholders in both companies need to convene, with a quorum, to examine the details of the merger agreement and approve it.
- C For those shareholders who do not agree to the ratio of the shares exchange, they may turn to the court and ask it to repudiate the transaction.
- D As the CEO and chairman, John is not required to excuse himself from voting at the shareholder meeting automatically, unless he has a conflict of interest that could result in a possible breach of fiduciary responsibility.
思路引導 VIP
在公司法的大多數決體制下，如果一位小股東不滿意多數決所決定的交易『對價（價格）』，法律通常會選擇『維護整筆交易的效力』，還是『為了個人權益而推翻整個公司的決策』？如果法律要補償這位股東，最直接且不影響其他股東利益的方式會是什麼？
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AI 詳解
AI 專屬家教
Sarcastic Verdict
- 恭喜，你終於證明自己不是完全狀況外。 能夠區分少數股東的「救濟」與公司處分的「效力」，這點至少證明你對異議股東股份收買請求權（Appraisal Rights）的基礎概念，有那麼一點點認識，實屬難得。
- 觀念驗證： 難道有人會天真到以為，只要價格不合心意，就能把整個交易都掀桌嗎？拜託，在絕大多數健全的法規體系中（是的，例如美國模範公司法或德拉瓦州法，這些你應該至少聽過吧），股東對合併換股比例不滿，其「高貴」的救濟手段，就是要求公司以所謂的「公平價值」來買回你的股份。
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