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1 merger
Gen Mgtthe union of two or more organizations under single ownership, through the direct acquisition by one organization of the net assets or liabilities of the other. A merger can be the result of a friendly takeover, which results in the combining of companies on an equal footing. After a merger, the legal existence of the acquired organization is terminated. There is no standard definition of a merger, as each union is different, depending on what is expected from the merger, and on the negotiations, strategy, stock and assets, human resources, and shareholders of the players. Four broad types of mergers are recognized. A horizontal merger involves firms from the same industry, while a vertical merger involves firms from the same supply chain. A circular merger involves firms with different products but similar distribution channels. A conglomerate company is produced by the union of firms with few or no similarities in production or marketing but that come together to create a larger economic base and greater profit potential. -
2 circular merger
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3 horizontal merger
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4 one-to-one merger
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5 vertical merger
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6 buyout
1. Gen Mgtthe purchase and takeover of an ongoing business. It is more formally known as an acquisition (see merger). If a business is purchased by managers or staff, it is known as a management buy-out.2. Gen Mgtthe purchase of somebody else’s entire stock ownership in a firm. It is more formally known as an acquisition (see merger).3. HRan option to transfer benefits of a pension plan on leaving a company -
7 Mitchell, Charles
SUBJECT AREA: Ports and shipping[br]b. 20 May 1820 Aberdeen, Scotlandd. 22 August 1895 Jesmond, Newcastle upon Tyne, England[br]Scottish industrialist whose Tyneside shipyard was an early constituent of what became the Vickers Shipbuilding Group.[br]Mitchell's early education commenced at Ledingham's Academy, Correction Wynd, Aberdeen, and from there he became a premium apprentice at the Footdee Engineering Works of Wm Simpson \& Co. Despite being employed for around twelve hours each day, Mitchell matriculated at Marischal College (now merged with King's College to form the University of Aberdeen). He did not graduate, although in 1840 he won the chemistry prize. On the completion of his apprenticeship, like Andrew Leslie (founder of Hawthorn Leslie) and other young Aberdonians he moved to Tyneside, where most of his working life was spent. From 1842 until 1844 he worked as a draughtsman for his friend Coutts, who had a shipyard at Low Walker, before moving on to the drawing offices of Maudslay Sons and Field of London, then one of the leading shipbuilding and engineering establishments in the UK. While in London he studied languages, acquiring a skill that was to stand him in good stead in later years. In 1852 he returned to the North East and set up his own iron-ship building yard at Low Walker near Newcastle. Two years later he married Anne Swan, the sister of the two young men who were to found the company now known as Swan Hunter Ltd. The Mitchell yard grew in size and reputation and by the 1850s he was building for the Russian Navy and Merchant Marine as well as advising the Russians on their shipyards in St Petersburg. In 1867 the first informal business arrangement was concluded with Armstrongs for the supply of armaments for ships; this led to increased co-operation and ultimately in 1882 to the merger of the two shipyards as Sir W.G.Armstrong Mitchell \& Co. At the time of the merger, Mitchell had launched 450 ships in twenty-nine years. In 1886 the new company built the SS Gluckauf, the world's first bulk oil tanker. After ill health in 1865 Mitchell reduced his workload and lived for a while in Surbiton, London, but returned to Tyneside to a new house at Jesmond. In his later years he was a generous benefactor to many good causes in Tyneside and Aberdeen, to the Church and to the University of Aberdeen.[br]Further ReadingD.F.McGuire, 1988, Charles Mitchell 1820–1895, Victorian Shipbuilder, Newcastle upon Tyne: City Libraries and Arts.J.D.Scott, 1962, Vickers. A History, London: Weidenfeld \& Nicolson (a recommended overview of the Vickers Group).FMW -
8 ACCC
abbr. FinAustralian Competition and Consumer Commission: an independent statutory body responsible for monitoring trade practices in Australia. It was established in November 1995 as a result of the merger of the Trade Practices Commission and the Prices Surveillance Authority. -
9 acquisition
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10 amalgamation
Gen Mgtthe process of two or more organizations joining together for mutual benefit, either through a merger or consolidation -
11 Australian Communications Authority
Fina government body responsible for regulating practices in the communications industries. It was established in 1997 as a result of the merger of the Australian Telecommunications Authority and the Spectrum Management Agency.Abbr. ACAThe ultimate business dictionary > Australian Communications Authority
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12 conversion ratio
Finan expression of the quantity of one security that can be obtained for another, for example, shares for a convertible bondEXAMPLEThe conversion ratio may be established when the convertible is issued. If that is the case, the ratio will appear in the indenture, the binding agreement that details the convertible’s terms.If the conversion ratio is not set, it can be calculated quickly: divide the par value of the convertible security (typically $1,000) by its conversion price.$1,000/$40 per share = 25In this example, the conversion ratio is 25:1, which means that every bond held with a $1,000 par value can be exchanged for 25 shares of common stock.Knowing the conversion ratio enables an investor to decide whether convertibles (or group of them) are more valuable than the shares of common stock they represent. If the stock is currently trading at 30, the conversion value is $750, or $250 less than the par value of the convertible. It would therefore be unwise to convert.A convertible’s indenture can sometimes contain a provision stating that the conversion ratio will change over the years.Conversion ratio also describes the number of shares of one common stock to be issued for each outstanding ordinary share of a different type when a merger takes place. -
13 corpocracy
Gen Mgtexcessive or unwieldy corporate management resulting from the merger of several companies (slang) -
14 external growth
Finbusiness growth as a result of a merger, a takeover, or through a partnership with another organization -
15 golden handshake
HRa sum of money given to a senior executive on his or her involuntary departure from an employing organization as a form of severance pay. A golden handshake can be offered when an executive is required to leave before the expiration of his or her contract, for example, because of a merger or corporate restructuring. It is intended as compensation for loss of office. It can be a very large sum of money, but often it is not related to the perceived performance of the executive concerned. (slang) -
16 golden parachute
HRa clause inserted in the contract of employment of a senior employee that details a financial package payable if the employee is dismissed. A golden parachute provides an executive with a measure of financial security and may be payable if the employee leaves the organization following a takeover or merger, or is dismissed as a result of poor performance. -
17 harmonization
Gen Mgt1. the resolution of inequalities in the pay and conditions of employment between different categories of workers2. the alignment of the systems of pay and benefits of two companies upon merger, acquisition, or takeover3. the convergence of social regulation in the European Union -
18 Infocomm Development Authority
Gen Mgta statutory board responsible for developing the information and communications sector in Singapore. It was formed in 1999 as a result of the merger of the Telecommunications Authority of Singapore and the National Computer Board.Abbr. IDAThe ultimate business dictionary > Infocomm Development Authority
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19 net advantage to merging
Finthe amount by which the value of a merged enterprise exceeds the value of the preexisting companies, minus the cost of the merger -
20 Singapore Exchange
Fina merger of the Stock Exchange of Singapore and the Singapore International Monetary Exchange, established in 1999. It provides securities and derivatives trading, securities clearing and depository, and derivatives clearing services.Abbr. SGX
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См. также в других словарях:
merger — merg·er / mər jər/ n 1: the absorption of a lesser estate or interest into a greater one held by the same person compare confusion 2: the incorporation and superseding of one contract by another 3 a: the treatment (as by statute) of two offenses… … Law dictionary
Merger — Mer ger, n. 1. One who, or that which, merges. [1913 Webster] 2. (Law) An absorption of one estate, or one contract, in another, or of a minor offense in a greater. [1913 Webster] 3. The combining of two groups into a unified single group under a … The Collaborative International Dictionary of English
merger — [mɛʀʒe] n. m. ÉTYM. Attesté fin XVIIIe, Restif; var. bourguignonne de murgier (XIIIe), murger (1341), mirger (1672), formes de l un des dérivés dialectaux du lat. pop. muricarium « tas de pierres ». → Mur. ❖ ♦ Régional. Tas de pierres provenant… … Encyclopédie Universelle
merger — (n.) 1728 in legal sense, extinguishment by absorption, from MERGE (Cf. merge) (v.), on analogy of French infinitives used as nouns (e.g. WAIVER (Cf. waiver)). From 1889 in the business sense; not common until c.1926. General meaning any act of… … Etymology dictionary
merger — /ˈmɛrdʒer, ˈmYːdʒə(r)/ [vc. ingl., propr. «fusione»] s. f. inv. (econ., di aziende) fusione … Sinonimi e Contrari. Terza edizione
merger — *consolidation, amalgamation … New Dictionary of Synonyms
merger — [n] consolidation alliance, amalgamation, cahoots*, coadunation, coalition, combination, fusion, hookup, incorporation, lineup, melding, mergence, merging, organization, pool, takeover, tie in, tie up, unification, union; concepts 323,324,703 Ant … New thesaurus
merger — ► NOUN ▪ a merging of two things, especially companies, into one … English terms dictionary
merger — [mʉr′jər] n. a merging; specif., ☆ a) a combining of two or more companies, corporations, etc. into one, as by issuing stock of the controlling corporation to replace the greater part of that of the other or others b) the absorption of one estate … English World dictionary
Merger — (1) Acquisition in which all assets and liabilities are absorbed by the buyer. (2) More generally, any combination of two companies. The New York Times Financial Glossary * * * merger merg‧er [ˈmɜːdʒə ǁ ˈmɜːrdʒər] noun [countable] FINANCE an… … Financial and business terms
merger — (1) acquisition in which all assets and liabilities ( liability) are absorbed by the buyer. Bloomberg Financial Dictionary (2) More generally, any combination of two companies. The firm s activity in this respect is sometimes called M&A (Merger… … Financial and business terms
