Mergers and acquisitions

Mergers and Takeovers

Speaking part 2: long turn

Read Professional English in Use – Finance Unit 39, “Mergers and takeovers” before giving a one-minute talk on the following topics:-

Mergers and takeovers 1

  • the difference between a merger and a takeover
  • the difference between takeover bids and raids
  • how companies form joint ventures

Mergers and takeovers 2

  • friendly bids and takeovers
  • hostile bids and takeovers
  • ‘white knights’ and ‘poison pills’

Mergers and takeovers 3

  • horizontal and vertical integration
  • backward and forward integration
  • diversification

Leveraged buyouts

Speaking part 2: long turn

Read Professional English in Use – Finance Unit 40, “Leveraged buyouts” before giving a one-minute talk on the following topics:-

Leveraged buyouts 1

  • how conglomerates are formed
  • possible inefficiency in conglomerates
  • asset stripping

Leveraged buyouts 2

  • what a ‘leveraged buyout’ is
  • the purpose of issuing and buying ‘junk bonds’
  • how ‘management buyouts’ are carried out
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