- •Выполнение контрольных заданий и оформление контрольных работ.
- •1. Read the text “Budget”.
- •2. Translate the first paragraph in written form.
- •3. Say whether the following statements are true (a), false (b) or information is not available (c).
- •4. Match the words with their definitions.
- •5. Translate the following words and phrases into English.
- •6. Translate the following words and phrases into Russian.
- •7. Complete the sentences.
- •8. Answer these questions in written form.
- •1. Listen to the text "a Student Credit Card" http://esl-lab.Com/credit/creditcardrdl.Htm
- •2. Choose the right answers to the following questions.
- •1. Read and translate the text “Leveraged Buyouts”.
- •2. Match the words with the definitions below.
- •3. Match the two parts of the sentences.
- •4. Put the sequence of events in the correct order. The first stage is a.
- •1. Match the names of professions (1 - 10) with their definitions (a - j):
- •2. Match the names of professions (1 - 10) with their definitions (a - j):
- •3. Match the names of professions with corresponding job advertisements.
- •4. Match the words with their synonyms.
- •5. Match the words with their antonyms.
- •1. Read and translate the text “Mergers and takeovers”.
- •2. Complete the sentences using the words from the text.
- •3. Match the newspaper headlines (1—5) with the processes (a—e).
- •1. Complete the following tasks.
- •2. Complete the following tasks.
- •3. Complete the following tasks.
- •1. Read and translate the text “Mergers and acquisitions”.
- •3. Complete the article about a key player in the merger implementation process, using words from the text.
- •Вариант 2
- •2. Translate the second paragraph in written form.
- •3. Define whether the statements are true (a), false (b) or information is not available (c)
- •5. Translate the following words and word combinations into English.
- •6. Translate the following words and word combination into Russian.
- •7. Complete the sentences .
- •8. Answer the questions in written form.
- •Listen to the text “Car Rental” : http://esl-lab.Com/rentcar/rentcarrd1.Htm
- •Choose the right answers to the following questions.
- •1. Read and translate the text “Futures”.
- •2. Match the words with the definitions below.
- •3. Complete the sentences using a word or phrase from each column.
- •1. Match the names of professions with their definitions.
- •Match the names of professions with their definitions.
- •3. Match the verbs with their synonyms.
- •4. Match the verbs with their antonyms.
- •5. Match the adjectives with their synonyms.
- •1. Read and translate the text “ Hedge funds and structured products”.
- •2. Match the verbs (a-d) with the definitions (1-4) below.
- •3. Are the following statements true or false?
- •4. Read the advertisement for structured products and answer the questions below in written form.
- •1. Complete the following tasks.
- •2. Complete the following tasks.
- •Complete the following tasks.
- •1. Read and translate the text “Corporate governance”.
- •2. Complete these terms related to corporate governance.
- •3. Complete this extract from an mba textbook using terms from the previous text. The first letter of each term has been provided.
- •Список используемой литературы
2. Complete the sentences using the words from the text.
1. I want to work in the mergers and..... department of an investment bank in New York.
2. Beverage Partners Worldwide is a...... between the Coca-Cola and Nestlé companies, making ready-to-drink teas and coffees.
3. After their...... Union Bank of Switzerland and Swiss Bank Corporation had combined assets of $600bn.
4. We started with a...... , buying all the stocks available on the stock exchange. That got us 15% of their stocks. Then we made a ..... offering 20% above the market price, and bought another 40% of the company.
5. Telecom Italia is looking for a .... to rescue it from a .... takeover by rival Olivetti.
6. Colonial has agreed to a .... takeover by Commonwealth Bank.
7. Mackenzie Financial Corp is planning a huge rights issue as a ..... to fight off C.I. Fund Management's takeover offer.
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3. Match the newspaper headlines (1—5) with the processes (a—e).
1. Shell Purchases 30 Gas Stations a) horizontal integration
2. Hotel Chain to Buy Furniture Manufacturer b) vertical integration
to Supply Its New Hotels
3. Electrical Retailer Dixons Bids for High Street Competitor c) forward integration
Currys
4. Coca-Cola Acquires Columbia Pictures for $700 Million d) backward integration 5. BP now Controls the Entire Supply Chain from the Oil e) diversification
Refinery to the Petrol Pump
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VI.
1. Complete the following tasks.
1. Recent accounting changes in the US
a eliminated the purchase method, allowing only the pooling-of-interests method for mergers and acquisitions
b eliminated the pooling-of-interests method, allowing only the purchase method for mergers and acquisitions
c allow for both the purchase method and the pooling-of-interests method for mergers and acquisitions
d outlawed the recording of goodwill for any merger or acquisition
2. The restructuring of a corporation should be undertaken if
a the restructuring can prevent an unwanted takeover.
b the restructuring is expected to create value for shareholders.
c the restructuring is expected to increase the firm's revenue.
d the interests of bondholders are not negatively affected.
3. The "information effect" refers to the notion that
a a corporation's actions may convey information about its future prospects.
b management is reluctant to provide financial information that is not required by law.
c agents incur costs in trying to obtain information.
d the financial manager should attempt to manage sensitive information about the firm.
4. In the long run, a successful acquisition is one that:
a enables the acquirer to make an all-equity purchase, thereby avoiding additional financial
leverage.
b enables the acquirer to diversify its asset base.
c increases the market price of the acquirer's stock over what it would have been without
the acquisition.
d increases financial leverage.
5. Bidding companies often pay too much for the acquired firm. The hubris hypothesis explains this by suggesting that the bidders
a have too little information to make an optimal decision.
b have big egos and this impedes rational decision-making.
c have difficulty in thinking strategically over the long-term.
d are overly influenced by the tax consequences of an acquisition.
6. A tender offer is
a a goodwill gesture by a "white knight."
b a would-be acquirer's friendly takeover attempt.
c a would-be acquirer's offer to buy stock directly from shareholders.
d viewed as sexual harassment when it occurs in the workplace.
7. The public sale of common stock in a subsidiary in which the parent usually retains majority control is called
a a pure play.
b a spin-off.
c a partial sell-off.
d an equity carve-out.
8. In the United States, goodwill charges arising from a current acquisition are generally deductible for "tax purposes" over
a 15 years.
b 20 years.
c 40 years.
d no years (i.e., these goodwill charges are not deductible for "tax purposes").
9. Empirical evidence on acquisitions indicates _____ excess returns on average to the shareholders of the selling company, and _____ excess returns on average to those of the buying company.
a no; no
b substantial; no
c no; substantial
d substantial; substantial
10. One means for a company to "go private" is
a divestiture.
b the pure play.
c the leveraged buyout (LBO).
d the prepackaged reorganization.
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