ACTIVITY
3:
Choose the right connector in each sentence.You can use them only once. Then
check the correct answers.
As you know, gentlemen, Signal Industries Ltd.
have made an offer which would result in them acquiring a
controlling interest in this company, if it were accepted.
, I have called this meeting
of the Board.
, I am personally inclined
not to recommend its acceptance, primarily
it would not be to our
shareholders' advantage, although of course we are
consider it. The offer in
itself is hardly generous – only five per cent above the present
market price for our shares and the opportunity to purchase
Signal shares
.
, it seems to me that Signal
have underestimated our recent recovery and I
propose that the Board
should resist the bid, partly because of the marked improvement
in our trading position but
because I don't believe the
bid as it stands can be taken seriously.
Open cloze
ACTIVITY 4:
Without looking at the original text on
the previous page, fill each of the blank spaces with one
suitable word. (Some blank spaces
accept more than one alternative). Then
check the correct answers.
MERGERS AND TAKE-OVERS
Anyone who glances at the
financial pages of British newspapers is bound to
across the,
term 'take-over bid'. He may also
about 'mergers',
in practice
amount to very
the same thing.
The only difference is
of emphasis,
since a merger suggests two companies joining forces
for their mutual benefit, while a take-over implies
one company
control of the other
the other likes
it or not. At one time, it
to be
Government policy to favour take-overs on the
that the bigger
a company
,
the
competitive it
would be abroad, an analysis that may sometimes be
justified but often overlooks disadvantages,
all because
one has worked
out systematically why the
of
mergers take
.
The Government has now sponsored a university
enquiry into the effects of mergers,
is a very
sensible step. A company bidding for another may
really want to build up a strong combination
of resisting
foreign competition but it may simply be interested
eliminating a
smaller,
efficient
rival,
presence
in the home market is embarrassing.
