نمونه سوالات آزمون های کارشناسی ارشد مدیریت اجرایی زبان عمومی و تخصصی امتحانات 94-86 - بخش (2)

No marketplace currectly exists for the mergers and acquisitions of privately owned small to mid-sized companies. Market participants often wish to maintain a level of secrecy about their efforts to buy or sell such companies. Their concern for secrecy usually arises from the possible negative reactions a company`s employees, bankers, suppliers, customers and others might have if the effort or interest to seek a transaction were to become known. This need for secrecy has thus far (thwarted) the emergence of a public forum or marketplace to serve as a clearinghouse for this large volume of business. At present, the process by which a company is bought or sold can prove difficult, slow and expensive. A transaction typically requires six to nine months and involves many steps. Locating parties with whom to conduct a transaction forms one step in the overall process and perhaps the most difficult one. Qualified and interested buyers of multimillion dollar corporations are hard to find. Even more difficulties attend bringing a number of potential buyers forward simultaneously during negotiations. Potential acquires in industry simply cannot effectively "monitor" the economy at large for acquistion opportunities even though some may fit well within their company`s operations or plans. An industry of professional "middlemen" exists to facilitate M and A transactions. These professionals do not provide their services cheaply and generally resort to previously-established personal contacts, direct-calling camparigns, and placing adverisements in various media. In servicing their clients they attempt to create a one-time market for a one-time transaction. Many but not all transactions use internnediaries on one or both sides.