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1、出版物联盟商务英语BEC高阶：极速阅读1998wasundoubtedlytheyearofthemerger.Morecompaniesthaneverbeforejoinedtogetherindealsthattoatalled$2.25trillionandcreatedtheworld'sbiggestoilcompany.Facedwithplummetingoilprices,oilgiantsExxonandMobilsoughttoachieveeconomiesofscalethrougha$250bnmergertherearesevera
2、lfactorsbehindincreaseinmergersandacquisitions.Firstly,theacceleratedrateofglobalisationhasleftcompaniesdesperatelyseekingoverseasacquisitionsinordertoremaincompetitive.DeutscheBankboughtitswayintotheUSwithitstakeroveroftheBankersTrust,whilstSiemenshopesthatitsacquisitionofMatra,theF
3、renchdefensegroup,willallowittogainaccesstoFrance'srailwaybusiness,whichisdominatedbyAlstom,theAnglo-Frenchconsortium.Anotherfactorbehindtheincreaseinmergeractivityistherecordperformanceofthestockmarkets,whichhasenabledcompaniestofinancemajoracquisitionsonthestrengthoftheirinflatedsh
4、areprices.EarlierthisyearVodafone,theUKmobiletelephoneoperator,acquireditsUScounterpartAirTorchbybymakingAirtorchshareholdersacashandstockswapofferworthatotal$62bn.ThedealcreatedVodafoneAirTorch,theworld'slargestmobiletelecomsgroupwithover29mcustomers.theEuropeanbankingsectorisalsose
5、eingatrendtowardsconsolidation,aprocessacceleratedbyderegulation,over-capacityandthearrivalofthesingleEuropeancurrency.Newtechnologyisalsomakingiteasierforcompaniestodiversifyasdifferentindustriescometorelyoncommontechnologies.Microsoft,forinstance,isbusilydiversifiedintocableandtele
6、communicationsaswellasWebTV.TheUSsoftwaregianthasa$5bnequitystakeinAT&T,whichrecentlyboughtMediaOnefor$57bn.Underthedeal,Microsoftwillsucceedinintroducingitsrecently-launchedcabletelevisionsoftwareintomillionsofhomesintheUSandUK.Notallmergers,however,aretheresultofglobaleconomytrends
7、,policalchageortechnologicalinnovation.BMW'stakeoveroftheRoverGroupinjectedmuchneededinvestmentintothestrugglingUKcarmanufacturerwhilstextendingBMW'sproductrange.andwhentheUKpharmaceuticalfirmZenecamergedwithSwedishdrugcompanyAstra,thenewcompaniesstartedwithstrongR&Dcapabilities,furt
8、herbytheworl
