文档介绍：该【高等学校英语拓展系列教程商务英语阅读 】是由【1781111****】上传分享，文档一共【18】页，该文档可以免费在线阅读，需要了解更多关于【高等学校英语拓展系列教程商务英语阅读 】的内容，可以使用淘豆网的站内搜索功能，选择自己适合的文档，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此文档到您的设备，方便您编辑和打印。:..,capturingtechnologyandtalent,andbuildingmarketsharequicklypetitiveenvironment?thesemarket-:..Warm-:Whyisthisanewwayofforeigncapitalintroduction?Besidesthis,whatotherwaysdowehaveinChinatoattractforeigncapital?:IsitverythreateningforChineseretailerslivinginthisPost-WTOEraDoyouhaveanyideasabouttheaboveways?HowcanChineseretailersgrow:..eretailgiantsinChina?,whatprocessisinvolvedForthemanufacturingofporkproducts,esomemanufacturers,andhereSmithfieldFoods,prefertoraisehogsthemarkets?:..LeveragedBuyoutLBOpanyusingasignificantamount?ofborrowedmoneybondsorloanstomeetthecostofacquisitionOften,theassetsofthecompanybeingacquired?areusedascollateralfortheloansinadditiontotheassetsofthe??:杠杆收购又称举债收购或融资收购,是收购方以目标企业资产及未来收益作抵押,通过大规模的融资借款对目标企业进行收购。杠杆收购起源并风行于美国。BusinessEnglishReadingBackBack:..eAcompany'eis?calculatedbytaking?revenuesand?adjustingforthecostofdoingbusiness,depreciation,interest,':是企业在某一会计期间缴纳所得税后的净经营成果,即将总营业额扣除所有的费用(包括税收)之后所得的数值,净利润是一项非常重要的经济指标。对于企业的投资者来说,净利润是获得投资回报大小的基本因素,对于企业管理者而言,净利润是进行经营管理决策的基础。同时,净利润也是评价企业的盈利能力、管理绩效以至偿还能力的一个基本工具,是一个反映和分析企:..TextAoutlineBusinessEnglishReadingBackBack2TermStudyBMergersandAcquisitionsAgeneraltermusedtorefertothepanies.?Amergerisapaniestoformapany,whileanacquisitionisthepanybyanother?inwhichno?,corporatefinanceandmanagementdealingwiththebuying,biningofpaniesthatcanaid,finance,orpanyinagivenindustry:..:是指一家或数家公司重新组合的手段和形式。《大不列颠百科全书》对兼并是这样解释的:兼并是指两家或更多的独立的企业、公司合并成一家企业,通常由一家占优势的公司吸收另一家或更多的公司。而收购是指一家公司用现金、股票或债券购买另一家公司的股票或资产以获得对该公司(或者称为目标公司)本身或其资产实际控制权的行为。BusinessEnglishReadingBackBack2TermStudyBVerticalIntegration纵向整合:指为同一种制成品生产不同货品及服务的两家公司的合并。HorizontalIntegration横向整合:指公司把业务扩展到同类的不同产品。:../分散化战略经营:在现有的产品和市场之外,开创或购买其他业务。BusinessEnglishReadingBackBack2TermStudyBFiscalYear财政年度:一家公司使用的任何12个月时期或政府用于税务计算的12个月时期。pany营销公司:相对于生产经营公司ManufacturingCompany而言,指经营的重心从生产转为营销。:..totrialpurchase,eptance,,:一种典型的品牌结构,指多种产品共同使用一个品牌。常见的有两个层面的家族品牌:产品层面的和企业层面的。产品层面的:..业层面的家族品牌,通常又叫大族群品牌、企业硬背书品牌,相对地,被家族品牌率领的品牌叫做个体品牌IndividualBrands。:TheProcter-GillettemergerStrategicadvantagesofthemerger:Creatingaconsumer-productspowerhousecombingsomeoftheworld’sbest-knownbrandsStrengtheningtheirbargainingpositionwiththelikesofWal-paniesinsimilarmarketsplementaryskillsProctermarketing:..:TheProcter-GillettemergerStrategicadvantagesofthemerger::TheProcter-GillettemergerStrategicadvantagesofthemerger:Identifying$14billionto$16billioninannualbenefitsfromthemergerLeadingtoabout6,000jobcutsorabout4percentoftheworkforceMakingtheacquisitiona60percentstockand40percentcashdeal:..::principles:FoodsafetyStrengtheningenvironmentalprogramsEnvironmentalsafetyDiversifyingintobeefprocessingWorkersafetyTurningitssightsoverseasExpandingintomoreproducts,:..addiinnggBackBack4DiscussionTextAHowcanretailersdeveloplong-termBrandingStrategies?ThroughM&AWhatdoyouthinkofmergerandacquisitioninopportunitiesaswellaschallengesinthePost-WTOEra?MoreinformationFFFFororororeeeeiiiignLgnLgnLgnLaaaanguanguahihihihinganganghPhPhPhPrrrreeeessssssssBBuussiinneessssEEnngglliisshhRReeaaddiinnggBackBack4DiscussionTextB:..youagreeonthefollowingstatementsorclaims?,,panyceasestothebuyer'sstockcontinuestobetraded:..hihihihinganganghPhPhPhPrrrreeeessssssssBBuussiinneessssEEnngglliisshhRReeaaddiinnggBackBack5MoreInformationDistinctionbetweenmergersandacquisitionsInthepuresenseoftheterm,amergerhappenswhentwofirms,oftenofaboutthesamesize,'stocksaresurrenderedandpanystockisissuedinitsplaceFFFFororororeeeeiiiignLgnLgnLgnLaaaanguanguahihihihinganganghPhPhPhPrrrreeeessssssssBBuussiinneessssEEnngglliisshhRReeaaddiinngg:..kk5MoreInformationDistinctionbetweenmergersandacquisitionsInpractice,however,actualmergersofequalsdon',panywillbuyanotherandsimplyallowtheacquiredfirmtoproclaimthattheactionisamergerofequals,evenifitistechnicallyanacquisition?:..purchaseisfriendlyorhostileandhowitisannounced?Inotherwords,therealdifferenceliesinhowmunicatedtoandreceivedpany'sboardofdirectors,-sellingTaxationGeographicalorotherdiversification:ResourcetransferVerticalintegrationFFFFororororeeeeiiiignLgnLgnLgnLaaaanguanguahihihihinganganghPhPhPhPrrrreeeessssssss:..