商务英语重点词汇(2)

商务英语重点词汇(2)

一、Parentsandsisters母公司和姐妹公司

Aholdingorholdingcompanyisonethatholdsstakesinoneormoresubsidiaries.Ifitownsallthesharesinasubsidiary,thesubsidiaryisawholly-ownedone.

Aholdingcompany'srelationshiptoitssubsidiariesisthatofparentcompany,andthesubsidiariesrelationshiptoeachotheristhatofsistercompanies.Aholdinganditssubsidiariesformagroup.

Aconglomerateisagroupcontainingalotofdifferentcompaniesindifferentbusinesses.Journalistsalsorefertolargegroupsasgiants.

注释：

Holdingcompany控股公司Subsidiary子公司

Wholly-ownedsubsidiary全资子公司Parentcompany母公司

Sistercompany姐妹公司Group集团公司

Conglomerate联合大企业Giant大企业；企业巨人（新闻用语）

二、Predators,raiders,andwhiteknights掠夺者、抢劫者和善意合作者

Thetakeoverprocessisoftendescribedintermsofoneanimalhuntinganother:acompanyorindividualseekingtotakeoveranothercompanymaybereferredtoasapredator,andthetargetcompanyastheprey.Predatorsarealsoreferredtoasraidersorcorporateraiders.

Acompanywishingtoresist,wardoff,orfendoffbeingtakenoverhasanumberofoptions.Itmaydeviseplansthatgiveexistingshareholdersspecialrights,oritmaymakeitselflessattractivetobiddersbysellingoffavaluablepartofthecompany,orholdingontoanunattractiveone.Actionslikethesearepoisonpills.

Oritmaypersuadeafriendlypartner,awhiteknight,totakeastakeinthecompany,thuspreventingacompletetakeoverbyahostilebidder.Biddersmayagreetowithdrawtheirbidifpaidenoughmoneyforthesharestheyholdinthetargetcompany.Thisisgreenmail.

注释：

Predator掠夺者(恶意吞并其它企业)Prey猎物(被恶意并购的企业)

Raider掠夺者(恶意并购其它企业)Corporateraider合伙掠夺者

Fendoffabid阻止收购Wardoffabid阻止收购

Poisonbill毒药(公司通过给予股东某些特权、或卖掉部分有价值资产，而持有或购进价值不大的资产，从而减少自己对并购公司的吸引力)

WhiteKnight

指购买公司部分股份以免遭兼并企业完全兼并的善意和或者。

Greenmail绿函交易

指兼并企业以增加股票价值为条件撤回自己向标的企业投标的交易。

三、Leveragedbuy-outsandjunkbonds杠杆收购和垃圾债券

Inaleveragedbuyout,orLBO,acompanyisacquiredbyagroupofinvestors,oftenfinancedbyheavyborrowing.Thedebtisthenpaidoutofthetargetcompany'soperatingrevenuesorbysellingitsassets.

TheborrowinginvolvedinLBOsisoftenhigh-riskdebtcalledjunkbonds.

LBOsfinancedbyjunkwerefrequentinthe1980sandafteranabsencefollowingtheexcessesofthatperiod,theyarenowoccurringagain.

注释：

Leveragedbuy-out杠杠收购LBO=Leveragedbuy-out

Junkbonds高风险债券

四、Jointventuresandalliances合资与联盟

Twoormorecompaniesmaydecidetoworktogetherbysettingupajointventureorallianceinwhicheachholdsastake.

注释：

Jointventure合资企业Alliance企业联盟

五、Mergers兼并

Whentwocompaniescombine,usuallyvoluntarily,theymergeinamerger.

注释：

Mergers兼并Merger兼并