市场收购

在被问到为何更愿意投资中型市场收购基金，而非“大型”收购基金时，paulcapital合伙人大卫德威斯（daviddeweese）回答：“帆船比巨型油轮更容易转向。”

Asked why he prefers investing in mid-market buy-out funds over the " mega buy-out " end of the market , David de Weese , partner at Paul capital , replies : " it is easier to turn a sailboat than a supertanker . "

曾批评过中国在知识产权方面做法的美国科技分析师马克褠德森（MarkAnderson）称，因此，中国加入自由市场收购大战，并为获得美光之类公司的战略性技术支付合理的价钱，标志着一种受欢迎的转向。

So joining the free-market takeover game and paying a fair price to acquire the strategic technology of a company like Micron would mark a welcome turn of events , says Mark Anderson , a US tech analyst who has criticised China 's approach to intellectual property .

然而，中型市场收购基金并非一帆风顺。

Yet it is not plain sailing for mid-market firms .

一些中型市场收购基金表示，它们有能力应对信贷紧缩。

Some mid-market houses say they are well-positioned for the credit crunch .

这些资金不能给他们带来任何收益，但会降低在海外市场收购的机会成本。

It is earning them zero and lowers the opportunity cost of an acquisition in an overseas market .

采用市场收购、池塘越冬养殖、药物催产的方法，进行黄颡鱼人工繁殖技术研究。

Use the method such as market purchasing , pool cultivating overwinter and using oxytocic to make technical study on breeding Pelteobagrus fulvdrace by manual work .

1999年7月1日实施的《证券法》，明确规定了我国上市公司股权转让的两种方式，即：协议转让和二级市场收购。

The Securities Act enforced in Jul.1 , 1999 stipulates definitely there are 2 ways of stock right transfer of our listed companies , i.e. agreement transfer and acquiring in the secondary market .

该行发表上述言论之前，中国国家外汇管理局（SAFE）位于香港的一家子公司上月在公开市场上收购了澳新银行近1%的股份。

The comments follow a move last month by a Hong Kong-based subsidiary of China 's State Administration of Foreign Exchange , which purchased a near 1 per cent stake in ANZ in the open market .

百仕通（Blackstone）首次进军印度地产市场，收购了一家项目管理公司的股份，该公司可以作为进行其他投资的跳板。

Blackstone has made its first foray into Indian real estate with the acquisition of a stake in a project management company that it can use as a springboard for other investments .

中钢向收购委员会提出申诉，随后，该委员会作出裁定，harbinger从市场上收购中西部公司股份而未予以披露，违反了外资收购法。

Sinosteel complained to the takeovers panel , which ruled that Harbinger had breached foreign takeover law by buying Midwest shares in the market last month without giving notice .

不过，因市场推测收购报价会上调，orica股价已飙升20%，至33.50澳元。

Still , Orica shares soared 20 per cent to a record a $ 33.50 amid speculation that the bid would be raised .

野村国际（nomurainternational）中东投资银行主管阿奈法拉杰（anaisfaraj）表示，海湾地区投资者将加大其在亚洲和新兴市场的收购力度，经济和政治兴趣的融合可能会提高海湾地区和亚洲之间的交易额。

Gulf investors are set to step up acquisitions in Asia and emerging markets , according to Anais Faraj , head of Middle Eastern Investment Banking for Nomura , with a confluence of economic and political interest likely to increase the deal flow between the Gulf and Asia .

第二部分分析了公司治理的外部机制。公司治理的外部机制是指资本市场的收购、兼并机制。

The second part analyzes the external mechanism of the corporate governance .

因为从长期看来，思科还可以通过在其它市场进行收购的方式来实现增长。

Longer term , Cisco can still turn things around by buying its way into growing markets .

不过，2008年最引人瞩目的新兴市场买家收购案并不是一次完全愉快的经历。

However , the most prominent acquisition by an emerging-market buyer this year has not been an entirely happy experience .

今年一系列备受瞩目的交易突显出，新兴市场企业收购欧洲企业的兴趣正在增强。

A series of high-profile deals this year highlights the growing interest of emerging market companies in making acquisitions in Europe .

积极地拓展全球市场，收购加拿大太平洋酒店在1999年秋季费尔蒙特酒店，创造费尔蒙特酒店及度假村。

Motivated to expand globally , Canadian Pacific Hotels acquired Fairmont Hotels in the fall of1999 , creating Fairmont Hotels & Resorts .

巴伦西亚的后卫莫雷蒂以及塞维利亚的中场球员马雷斯卡都被拉齐奥的主席洛蒂托放在了夏季转会市场的收购名单上。

Valencia fullback Moretti and Sevilla midfielder Maresca are both on Lazio president Claudio lotito 's shopping list for the summer market .

如有必要，政府也可以进入市场，收购未卖掉的房子并用作社会保障住房。

If necessary , the government may also enter the house market to buy unsold houses and use them for social purposes .

通过建立控制权竞争的两个子博弈模型，研究了控制权市场的收购威胁对于资本结构选择的影响；

By establishing two Subgame models on control contest , influences of capital structure from takeover threat in corporate control market are researched .

重点研究国际上较为普遍采用的要约收购这一市场化收购方式于我国企业的实质性资产重组有很大的理论意义与现实意义。

So research is it purchase market-based purchase way this for promote substantive rearrangement of assets have certain theory meaning and realistic meaning nearly to want .

随着中国企业对在西方发达市场展开收购的兴趣愈发浓厚，私人股本公司的潜在作用也愈发凸显。

As Chinese companies become more interested in making acquisitions in the developed markets of the west , the private equity firms can potentially do much to help .

为了降低这一风险，欧洲央行挺身而出，开始在二级市场上收购意大利国债，简而言之，即从容易受到惊吓的私人投资者手中接盘。

To offset this risk , the ECB came out and started buying Italian bonds on the secondary market , essentially taking the place of skittish private investors .

它为企业控制权打开了市场敌意收购的必要性减弱，并缔造了新一代受过良好教育、精力充沛且报酬不菲的高管。

It opened the market for corporate control the need for hostile bids faded and it produced a new generation of well-trained , energetic and highly rewarded executives .

本文主要就资本市场上收购兼并过程中经常发生的目标公司定价问题进行了初步探讨。

In capital market pricing for the target is always concerning , so in the following paragraph we focus on how to pricing for the target during M & A.

它计划在市场上收购抵押贷款债券，直至经济开始创造就业。美联储还表示，即便发现了复苏迹象，也不会立即收紧货币政策。

It plans to buy mortgage bonds in the market until the economy starts creating jobs – and says it will not tighten monetary policy immediately even when it spots a recovery .

在美国和欧洲，宽松的信贷市场促使收购活动日盛，私人股权投资机构正大规模收购上市公司，其涉足领域各式各样，甚至包括医院、音像公司。

In the US and Europe , a boom in takeover activity fuelled by cheap debt has seenprivate-equity groups buy large listed companies in sectors as diverse as hospitals and music production .

随着平稳的经济增长、宽松的银行融资和上涨的股票市场让收购集团相信自己可以点石成金，它们似乎淹没在自身的狂妄自大之中。

Buy-out groups seemed wrapped up in their own hubris , as smooth economic growth , easy bank financing , and rising stock markets convinced them that everything they touched turned to gold .

韩方讨论了一个分两步走的计划，即韩国产业银行将直接从雷曼兄弟购买25%的股份，其余25%则通过市场要约收购来完成。

The Korean side discussed a two-step process under which KDB would buy a 25 per cent stake directly from Lehman and another 25 per cent of the company 's shares through a market tender .

随着收购价值观的不断转化以及资本市场上收购类型的日益多元化，反收购作为敌意收购中目标公司抵御甚至挫败收购人收购行为的策略运用，必将在上市公司控制权争夺战中发挥重大作用。

With the change of the acquisition values as well as the diversification of the acquisition types , anti-takeover as a strategy which target company resists even defeats acquisitions will play an important role in the war of control power .