Lesson 5. Ex.3. Familiarize yourself with the following idioms

Ex.3. 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.

Ex.4. Comment on the following:

“Self-confidence is the first requisite for great undertakings”

(Samuel Johnson).

Text: Companies’ Restructuring

Grammar: Past Perfect Simple

Terms to remember:

restructure (v)	™	реорганізовувати, перебудовувати
witness (v)	™	бути свідком (чогось)
market	™	ринок
combine (v)	™	об’єднуватися
voluntarily	™	добровільно, за власним бажанням
merge (v)	™	зливатися, об’єднуватися, поглинати
merger	™	злиття, поглинання
controlling share	™	частка в капіталі компанії, яка забезпечує контроль за її діяльністю
acquire (v)	™	придбати
make an acquisition	™	придбати
take over (v)	™	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, без примусу
make a bid (for something)	™	робити пропозицію (щодо купівлі чогось за зазначену ціну)
price	™	ціна
buyout	™	придбання контрольного пакета акцій, викуп
purchase	™	закупівля, покупка
staff	™	персонал, штат (службовців тощо)
divest of (v)	™	позбавляти; відмовлятися; відкидати
pull out (v)	™	відмовлятися від участі в чомусь
abandon (v)	™	відмовлятися, залишати
efficient	™	ефективний
profitable	™	прибутковий
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 are 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 in Word Study

Ex.1. Form adjectives from the following nouns:

efficiency, profit, aim, price, will, hostility, volunteer, change, control, activity.

Ex.2. Give the English for:

світ бізнесу, зміни в структурі компанії, об’єднуватися добровільно, придбати бізнес, поглинати компанію, власник компанії, купувати (продавати) компанію, відмовлятися від діяльності, залишати бізнес, придбання контрольного пакета акцій, персонал, програма реорганізації бізнесу, прибутковий бізнес, мета.

Ex.3. Match words from list A with words from list B that have a similar meaning:

A	B
witness buy aim staff make an acquisition enter new types of businesses win share hostile takeover bid pull out	stop participating acquire observer purchase purpose gain stock diversify offer to sell something at a certain price unfriendly takeover personnel

Ex.4. Find suitable opposites to the following words and phrases:

a friendly takeover, to sell, demerger, inefficient, unprofitable, worse, involuntarily, to lose.

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