Answer Key
Raising finance – Practice 2
Fill in the gaps with the appropriate word or phrase in the correct form.
- His company was taken [over] by a large multinational.
- His attorney said it was a [sweetheart] deal that would have allowed Elway to buy stakes at 50 percent of the team's market value.
- The [black] knight of a takeover is hostile and is likely to run up against any number of defenses funded by the target company.
- We started as a music company but we diversified [into] television.
- Robert inherited his father's shares in ATC Ltd. and now holds the [majority] stake of 67%.
- The company was a somewhat [unwieldy] conglomerate that included Red Owl grocery in Minnesota, Mode O'Day clothing stores, Aldens mail order catalogues and a bunch of other businesses.
- A management [buyout] is a good deal for the business itself, as the new owners-directors investing their own money are strongly motivated and they already know the business from top to bottom.
- The banks that don't acquire could become [prey] themselves and be acquired.
- Corporate [raider] Steve Sternberg attempted a hostile takeover of the company in 1984.
- China signed an agreement to develop a regional jet, setting up a joint [venture] company in which it will have a 46 per cent stake, Airbus 39 per cent and Singapore Technologies 15 per cent.