I. Set the writing nouns (1 - 10).

I. Set the writing nouns (1 - 10).
Select the definition (a - j), the corresponding noun.
1) audit a) a formal written document that is a record of an agreement, especially one relating to a property
2) benefit b) an official examination of a person's or organization's accounts by an expert
3) deed with) the buying and selling of goods and services
4) commerce d) a good effect or advantage that something has, for example a product or service
5) labour e) a sudden large increase in the number or amount of something
6) earnings f) the money that a person receives for the work in a particular period of time
7) leap g) work involving a lot of physical or mental effort
8) merger h) knowledge or skill gained from doing a particular job
9) improvement i) an occasion when two or more companies, organizations etc join together to form a larger company
10) experience j) the act or state of getting better
II. Put each sentence in the right sense of the missing word:
a list, balance, credit, return, share, staff
1. The balance sheet of a company is worked out from the final accounts.
2. Can you give me a list of current prices?
3. This company will not accept unconfirmed letters of credit.
4. Shareholders were offered 18 pence per share.
5. They retired eight members of staff but did not replace them.
6. You can expect a 15% return on this sum.
III. a) Complete the theme number 3, 5 DAC.
b) The following sentences emphasize the verb-predicate determine its species-temporal form and deposit. Turn suggestions on the Russian language.
1. Figures show that unemployment has been growing since 1990s.
2. Proposals have been put forward for increasing worker mobility.
3. Experts have been warning of the bankruptcy since the company was founded.
IV. a) Complete the theme number 1 in DAC.
b) The following sentences emphasize the gerund and an infinitive. Turn suggestions on the Russian language.
1. The two carmakers hope to achieve savings of 5% on common projects.
2. American corporations begin to offer entire packages of services.
3. After some hard talking officials decided to take part in a meeting in Geneva.
V. Read and orally translated into Russian, the entire text.
Rewrite and translate the writing paragraphs 1, 3.
Takeovers, Mergers and Buyouts
1. Successful companies have to find ways of using their profits. Sometimes they develop new products or services, perhaps to diversify and enter new markets, but sometimes it is easier to take over other companies with existing products and customers. Acquiring a competitor in the same field of activity (horizontal integration) gives a company a larger market share and reduces competition. Companies can also acquire businesses involved in other parts of their supply chain.
2. One way to acquire part-ownership of a company is a raid, which involves buying as many of a company's stocks as possible on the stock market. Because this increases demand, the stock price will immediately rise. A raid is unlikely to result in the acquisition of a controlling interest. More often, a company will launch a takeover bid. If the board of directors of a company agrees to a takeover, it is a friendly bid. If the company does not want to be taken over, it is a hostile bid.
3. Takeovers can lead to the formation of large conglomerates, which can lead to a contrary phenomenon: leveraged buyouts. Buyouts occur when financiers consider that a conglomerate has not achieved synergy but has become inefficient, as a result it is undervalued on the stock market. In other words, the conglomerate's market capitalization is lower than the value of its total assets.
VI. Decide whether the following statements:
a) true (true)
b) false (false)
c) there is no text information (no information)
1. Successful companies do not have to find ways of using their profits.
2. Takeovers can lead to the fo