兼并与收购 Mergers and Acquisition

样例欣赏1

Margaret Gellup is the Director of Communication for Volvo in France, talking about why the merger between the major automotive companies, Renault and Volvo failed.

玛格丽特?盖洛普是法国沃尔沃汽车公司的沟通部主管，正在谈论雷诺汽车公司和沃尔沃汽车公司之间合并失败的原因。

(A = Journalist B = Ms Gellup)

(甲=记者乙=盖洛普女士）

A：Ms, Gellup? the last time we spoke, you explained to me in detail what was going to be involved in the Renault-Volvo merger, which at that time had already been announced and looked very much like it was going ahead. Could you speak to me today about why that merger failed?

甲：盖洛普女士，上次我们交谈时，你详细地向我解释了雷诺-沃尔沃之间合并的相关事宜。那时，这件事情已经公开,一切进展顺利。今天，你能解释一下为什么两公司的合并会失败吗？

B：As a matter of fact, it is a little bit complicated to give you one short answer but I’ll try to be as brief as poss ible. The reasons are varied and I think personally that nobody knows the exact reason for the failure. First, there are typically Swedish reasons. Many shareholders, and in particular small shareholders, were worried about what would happen to this Swedish company which they considered to be more or less a national symbol, and they were afraid that the French company would

take over, so they were not in favor of the alliance.

乙：说实话，要想对这件事情给出一个简短的解释有点困难。但是我尽量筒洁些。原因多种多样，我认为没有人知道确切的原因。首先，主要是瑞典方面的原因。许多股东，特别是一些小股东，担心瑞典的公司，因为它是瑞典国家的象征。他们担心法国公司会接管，所以他们不赞同联合。

Then, of course，you had complications with some of the managers, who believed that it wasn’t going to be as good for business as they had originally hoped, and they made an official statement of their fears and advised that the merger should not go further. So, there was a board meeting at the beginning of December 1993，and during this board meeting it was decided not to go ahead with the merger. Then the CEO，Mr. White, walked out of that meeting and later resigned. So, Volvo developed a new strategy with a new management team in April of the following year.

其次，当然，管理人员也是一个复杂的因素。这些管理人员认为事情不像他们想像的那么简单，并正式公开了他们的担心，建议合并不要再进行下去。所以，在1993年12月初召开了董事会议，会上决定停止合并。接着，公司总裁怀特先生走出会议室，后来辞了职。所以，沃尔沃在第二年的四月份组合了一个新的管理团队，开发了一个新的战略。

样例欣赏2

(I = Interviewer FG = Francisco Guerrero)

（I=面试官FG =弗朗西斯科?格雷罗）

I：So, Mr. Guerrero, can you tell us why you’ve bought White Cross Airways? Isn’t it making quite large losses? Wasn’t there a loss last year of seven million Swiss francs on sales of 100 million?

那么，格雷罗先生，你能告诉我收购White Cross航空公司的原因吗?该公司不是亏损巨大吗？它不是在去年营业额1亿瑞士法郎的基础上，亏损七百万瑞士法郎吗

FG：Yes, but we hope to turn that situation round quite quickly. As you know, White Cross is based at Geneva, and they have ten routes such as Geneva-Barcelona, Geneva-Copenhagen and so on. Vm sure these can be developed if we offer low-cost, basic services like the ones we offer on Flyaway — no meals, just coffee that passengers pay for, that sort of thing. Several million people live within two hours of Geneva in Switzerland and France —it’s not very far from Lyon，you know, and all these people are potential customers. If we can offer low-cost flights, I’m sure we can develop this market.

是的，但是我们希望尽快扭转这一局面。正像你所知道的那样，White Cross 航空公司的总部在日内瓦，有日内瓦-巴塞罗那、日内瓦-哥本哈根等10个航线。我肯定，如果我们能够提供像Flyaway航空公司那样的低成本的基本服务（如：不提供膳食及免费咖啡等），情况就会有所好转。几百万人花不到两小时就可到达瑞士的日内瓦和法国，而且距离里昂又不远，这些都是潜在的客户。如果我们能够提供低成本的航班，这一市场肯定能被开发出来。