Resumen

FUENZALIDA, DARCY  y  NASH, MAURICIO. DIFFERENT LEGISLATIONS REGARDING OPAs. estud.gerenc. [online]. 2004, vol.20, n.91, pp.13-34. ISSN 0123-5923.

An analysis was made of then effect of the Tender Offer Law in Chile, and of the related situation of five countries with a more developed market than the Chilean one, reaching the conclusion that in order to successfully implement a Tender Offer Law it is necessary to bear in mind that the problem is not solved by establishing standards that regulate transactions, but by creating instances that contribute to a more dynamic and efficient market. In addition, there should exist a balance between protection of the minority stockholder and competition for corporate control. Finally, we can conclude that there is evidence that the Tender Offer Law has depressed the Stock Exchange.

Palabras clave : Tender Offer; Tender Offer Law; Tender Offer System Law.

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