M&A has become one common and important feature of China's economic landscape. The government encourages the consolidation of poor SOEs into non- state-owned companies. A large amount of foreign direct investment (FDI) takes the form of cross- border M&A. The leading Chinese companies are expanding the focus of their outbound M&A. On the other side, China is still an emerging economy going through a massive transition period. This implies that in many aspects, such as the mechanism of corporate takeovers, China still has a long way to go before it reaches the standards of developed economies....