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VI. According to the text, are the following statements true or false?




1. A paper swap without merger will be acceptable to Novoship’s executives.

2. German Gref continues to oppose a merger which would consolidate the three companies into a single shareholding.

3. This transfer of shares would cost the government money.

4. Terekhin sidestepped the question of whether the proposed merger of the two companies will involve a new share emission.

5. The Novoship minorities will be hurt, as their shares will not be diluted, at least not before the real merger.

6. Real merger will not happen within the next five years or so.

VII. Paraphrase the sentences using the words from the text instead of the underlined ones.

 

1) They didn’t come to an agreement during the last sitting of the board, so the agenda stays the same: how to unite the three companies into a single shareholding.

2) The governor of the region claims it’s impossible to set nautical monopoly for the next 5 years.

3) He strengthened his acting director position when he started a new campaign being a guardian for the state.

4) All subsidiaries and offshore branches have been involved into a new worldwide advertising campaign in order to attract new investments.

5) Again they tried to secure the approval of local authorities for the launching into the market a consignment of food supplements.

6) The Novoship representative admits that negotiations will only go on terms of 50%-share, otherwise the transaction will not take place.

7) They surrendered only after the paychecks were transferred to the bank and the results of the voting were announced.

 

VIII. Find the words in the text referring to the given definitions.

 

1. to avoid smth

2. close connection

3. the act of deciding how much money smth might be sold for or the amount of money decided on

4. limited to only one person or group of people

5. a possibility or likelihood of something happenning

6. to be, to be real

 

Listening

Listen to the recording and answer the following questions:

1. What is the circulation of US News and World Report?

2. How many magazines did Zuckerman own before he bought US News and World Report?

3. How was it/were they called?

4. How much is Zuckerman paying for US News and World Report?

5. How much is the price in relation to the 1983 earnings?

6. How many workers of the US News staff will be dollar millionaires if the deal goes through?

 

Speaking

I. Speak out:

a) Comment on the following quotation: “You cannot buy a company merely by buying its shares”.

b) As a member of the Board of Directors of GM explain what are the benefits that the company expects to flow from building strategic alliances with smaller competitors.

c) What are the possible disadvantages of the following strategic development elements:

· Joint production of engines and new models saves costs

· Production economies of scale

· Managerial economies of scale

· Technical economies of scale

· Speedier development times.

II. Read the following information and discuss the questions that follow.

 

Chase Manhattan is taking a minority stake in two British stockbrokers, Simon and Coates and Laurie, Milbank, with a view to acquiring them completely as soon as stock exchange regulations permit.

An agreed bid of 82m was made for Link House Publications by British publishers United Newspapers.

Reckitt and Colman increased their bid for Australian chemists Nicholas Kiwi to A $370m ($310m), topping the rival offer from Consolidated Foods, but still falling short of the market's valuation.

Don Scandia is to buy a 29,9% stake in Savory Milln, the London stockbrokers.

A consortium led by ITT bought the groups of the bankrupt Danish software and computer designer Christian Rovsing.

America's Federal Trade Commission approved the joint venture of General Motors and Toyota to build small cars in California.

British electronics group Thorn EMI said it wants to merge with British Aerospace. The merged company would have annual turnover of over $5 billion and products ranging from pop stars to missiles.

Lloyds Bank is to follow the lead of the other British clearing banks forming its own merchant banking subsidiary.

Jacob Rothschild's firm Charterhouse J. Rothschild will buy the 24,8% stake in Hambro Life owned by Hambros Bank.

Ted Turner's cable-TV company is thinking about bidding against network giant ABC to buy ESPN, America's largest cable channel.

The board of Prentice-Hall, the American publisher, approved a $705m takeover bid from Gull and Western.

Schlumberger, the Franco-American oil services group, is acquiring Sedro, a Dallas-based drilling company for $1.1 billion.

B.A.T. is selling the British retail chain, International Stores, to Dee Corp. for $118m.

International harvester is selling its troubled farm-equipment division to Tenneco for $430m.

The West German steelmakers Krupp Stahl and Klockner-Werke are to merge and team up with Australia's CRA, which will take a 35% stake in the concern.

Britain's second largest tour operator, Intasun Leisure, made a contested $44m bid for the Comfort Hotel chain.

 

Answer the questions:

1. Which company has been taken over by a group of other companies?

2. Which five other companies are definitely taking over companies?

3. Which five other companies are definitely being taken over?

4. Which eight companies are involved in possible takeovers?

5. Which company is going to own a newly started company?

6. Which tour companies are joining together or want to join together to form two companies?

7. Which four companies are buying minority stakes in which five other companies? Which one of these will probably become a takeover?

8. Which two companies are working together on a new project without changing their ownership?

 

Writing

Correct spelling and punctuation mistakes in the following memo:

Internal Memorandum

To: all staff

From: mortimer zuckerman

Date: 23 June 2008

Subject: takeover of us news and world report

as you know i have now formally taken over us news and world report and as you have no doubt read in the press i intend to take an active role in the running of the magazine

I appreciate that for various reasons some of you may not wish to stay in the magazine’s staff and you are of course free to leave if you wish however i would like to make it clear that although i will be bringing in some new staff which will involve changes in some of the existing job positions i will honour all existing contracts of employment and all of you are welcome to stay on

 

 

I would like to meet you all tomorrow morning at 11 am in the central office to explain the situation further and to hear your views by the end of the week you will all have been given the chance to discuss your individual positions if you wish to do so




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