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8. These words are often confused

to rise - to raise

to rise - is an intransitive verb, i.e. it cannot take an object

e.g. Prices rose last month.

to raise - is a transitive verb, i.e. it is followed by an object,

e.g. They raised the prices.

Complete these sentences using the correct form of one of the words above. Make your own sentences to show that you understand the difference in their meaning.

1. Many firms try to survive by ... productivity.

2. We are trying ... money to buy a new computer class.

3. My boss ... my salary by 5%.

4. The petrol prices ... by 15 % this week.

5. West European car sales ... from 1 to 1,5 million.

6. Sales have ... by 8 % this month.

7. We have ... our profit levels by 10 %.

8. They managed to ... sufficient capital to keep the company buoyant.

9. She ... the question of overtime payments.

10. His report ... some valuable points.

11.Companies needing money for development may ... capital on the

stock exchange by selling shares.

12.Large and small businesses need a capital market in which they can ...

finance.

13. Prices are ... at an alarming rate.

14. They ... their fees last year

9. Answer the following questions:

1. What do you know about different relationships that companies can have with one another?

2. What is a group?

3. Is subsidiary owned by another company?

4. What is a holding company?

5. What is a conglomerate?

6. Under what circumstances is a joint venture formed?

7. Why do companies unite into a consortium?

8. What is the difference between:

a parent company- a sister company

a group- a joint venture

a conglomerate- a consortium

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10. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them.

1. It's a good job you weren't at home when Jim called; he was in such a bad temper.

2. It's no good going to Mr. Brown for advice; he is only a sleeping partner.

3. We were all expecting him to fail, but he passed with flying colours.

4. It is better to tell a white lie than to lose a friend.

5. Since her wedding day my mother-in-law has been wearing the trousers.

11. Comment on the following:

"Self-confidence is the first requisite for great undertakings"

(Samuel Johnson).

TEXT 5: COMPANIES’ RESTRUCTURING

Vocabulary

restructure реорганізовувати, перебудовувати

witness бути свідком (чогось)

market ринок

combine об’єднуватися

voluntarily добровільно, за власним бажанням

merge зливатися

merger злиття

controlling share частка в капiталі компанії,яка забезпечує контроль за її діяльністю

acquire придбати

make an acquisition придбати

take over поглинати (компанію)

hostile takeover (в бізнесі) одержання контролю над компанією проти бажання її менеджменту, вороже поглинання

raider рейдер (приватна особа або корпорація- інвестор, що має намір отримати контроль над компанією шляхом придбання контрольного пакета акцій і призначення нових керівників)

willingly охоче, добровільно

make a bid робити пропозицію (щодо купівлі чогось за

(for something) зазначену ціну)

buyout придбання контрольного пакета акцій, викуп

purchase закупівля,покупка

staff персонал, штат

divest of позбавляти

pull out відмовлятися від участі в чомусь

abandon відмовлятися , залишати

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efficient ефективний

profitable прибутковій

aim ціль, мета

Companies' Restructuring

In the world of business we can often witness changes to the ownership or structure of companies and groups of companies. As a rule companies join with or buy other companies in order to have better control of a particular market, to diversify their business, to strengthen their operations to remain profitable. When two companies combine, usually voluntarily, they merge to form one company in an agreement known as a merger.

To buy another company or to win a controlling share of a company is to acquire a business, make an acquisition or take over a company. There are two types of takeover: a hostile takeover is a situation in which a company is bought out when the owners do not want to sell. Individuals or companies that want to take over other companies arc called raiders.

A friendly takeover takes place when a company is willingly bought out. When someone wants to buy a company they have to make a bid for it, i.e. offer to buy it at a certain price.

A buyout is the purchase of a company usually by buying the majority of shares, especially by its management or staff.

If a company sells a business, it divests itself of that business. If you pull out of a business activity, you abandon it, perhaps as part of a programme of restructuring: reorganizing a business with the aim of making it more efficient and profitable.

EXERCISES