2. 外语
  3. Mergers and takeovers mean the activities that two or more businesses join together and operate as one organization. Mergers us

Mergers and takeovers mean the activities that two or more businesses join together and operate as one organization. Mergers us

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问题     Mergers and takeovers mean the activities that two or more
businesses join together and operate as one organization. Mergers
usually occur when two firms are similar strong or weak, and【M1】______
takeovers occur when one firm is strong and the other is weak. One【M2】______
business can acquire with a public limited company by buying 51【M3】______
percent of the shares. Since the late 1990s, the number of M&A
(merger and acquisition)has developed in a quick speed all over the【M4】______
world Nearly all me industries have been affected as result of this trend.【M5】______
    There are various types of mergers and takeovers. For example,
horizontal integration occurs where two companies in exactly the【M6】______
same line of business and the same stage of production such as two
oil firms join together; Vertical integration can be forward vertical
integration or backward vertical integration. Take a firm which
manufactures and assembles bikes as an example. If it were to acquire【M7】______
with a firm which was a raw material supplier of tires for the bikes,
this will be an example of backward vertical integration. Forward【M8】______
vertical integration involves merging with a firm which is in the next
stage of production, such as a merger with a retailer of bikes. In
addition, mere is no diversifying integration in which two firms in【M9】______
completely different lines of business join together to exploring new【M10】______
and different market opportunities and reduce risks of operations.
【M6】
选项
答案where→when
解析 语法错误，定语从句先行词使用。定语从句先行词when强调时间，where强调地点，文中应是强调时间。
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