M&A approval process to be more transparent

The progress of the approval process for listed companies involved in merger and acquisition deals will be publicly displayed to increase transparency and improve efficiency, the China Securities Regulatory Commission said on Monday.

The publicly displayed information will include the name of the listed company, the applicant’s name, the financial consultant and sponsor’s names, and the names of the law firm and accounting firm.

In 2011, the value of 4,698 M&A deals by domestic companies totaled 1.62 trillion yuan ($258.6 billion), of which 67 percent were made by listed domestic companies. The average percentage before 2005 was less than 20 percent.