单选题
Mergers and Acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow (21) without having to create another business entity.
In business or economics a merger is a (22) of two companies into one larger company. Such actions are commonly (23) and involve stock swap or cash payment to the target. Stock swap is often used as it allows the shareholders of the two companies to (24) the risk involved in the deal. A merger can resemble a takeover but result (25) a new company name and in new branding; in some cases, (26) the combination a "merger" rather than an acquisition is done purely for political or marketing reasons.
An acquisition, also known as a takeover or a buyout, is the buying of one company by another. An acquisition may be friendly or hostile. In the (27) case, the companies cooperate in negotiations; in the latter case, the takeover target is (28) to be bought or the target's board has no prior knowledge of the offer. Acquisition usually refers to a purchase of a smaller firm by a larger one. Sometimes, (29) a smaller firm will acquire management control of a larger or longer established company and keep its name for the combined entity. The acquisition process is very complex, with many dimensions influencing its (30) .