1. Im exhausted I (work) all day on my business plan, and I (not finish) it yet.
2. I (shop) all morning, but I (not buy) anything yet. I havent seen anything Ive liked.
3. I (wait) for two hours, but nobody (arrive) yet.
4. I (listen) to you for the past half an hour, but Im afraid I dont understand your new idea.
5. The company (not make) any money for 2 months.
6. This shop never (make) any profit.
7. He (not have) a holiday for years.
8. My friend (be) President of the holding company for 3 months now.
9. I (read) a lot of special literature lately.
10. The parent company (finance) its subsidiary for 2 months.
11. How long you (work) for them?
12. We have spoken to each other on the phone, but we never (meet).
Ex.3. True or false? Correct where necessary.
1. We have been thinking of ways to help our sister company for a week already.
2. Our President has decided to change the management structure last May.
3. We have been placing an advertisement in Accounting Journal this Month.
4. They have raised the prices for gas last week.
5. They have been expanding their business for 6 months.
6. We have bought more than half of the shares of this company last month.
7. I have prepared the annual report since early morning.
8. My uncle knows everything about finance. He has been working as a financial manager for 20 years.
9. I have been sending them a fax today.
10. My brother has quarrelled with his boss yesterday.
11. Bill is a natural salesman. He has been selling 10 cars since the beginning of the week.
12. I wonder how Mary is getting on. I haven't heard from her for nearly a month.
Ex.4. Translate into English:
1. ³ .
2. .
3. .
4. ³ 20 .
5. 볺 . .
6. , .
7. . .
8. 15 .
9. .
10. 10 .
11. ?
12. .
Speech and Discussion
Ex.1. Talk to your groupmate:
s Which is the most interesting to work in;
A parent company, a sister company, a joint venture, a conglomerate;
s Choose one company and speak about advantages and disadvantages of working there.
Ex.2. Discuss with your groupmates different relationships companies can have with one another.
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.
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1. Its a good job you werent at home when Jim called; he was in such a bad temper.
2. Its 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).
Lesson 5
Text: Companies Restructuring
Grammar: Past Perfect Simple
Terms to remember:
| restructure (v) | ™ | , |
| witness (v) | ™ | () |
| market | ™ | |
| combine (v) | ™ | ᒺ |
| voluntarily | ™ | , |
| merge (v) | ™ | , ᒺ, |
| merger | ™ | , |
| controlling share | ™ | , |
| acquire (v) | ™ | |
| make an acquisition | ™ | |
| take over (v) | ™ | () |
| hostile takeover | ™ | ( ) ; |
| raider | ™ | ( -, ) |
| willingly | ™ | ; , |
| make a bid (for something) | ™ | ( ) |
| price | ™ | |
| buyout | ™ | , |
| purchase | ™ | , |
| staff | ™ | , ( ) |
| divest of (v) | ™ | ; ; |
| pull out (v) | ™ | |
| abandon (v) | ™ | , |
| efficient | ™ | |
| profitable | ™ | |
| aim | ™ | , |
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.
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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:
, , ᒺ , , , , () , , , , , , , .
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.
