Ex.2 Find the words in the text that mean the following:
1to become more varied or different (e.g. by selling different products)
2places where goods are sold (shops, stores, kiosks, markets, etc.)
3a sufficient number of stocks in a company to be able to decide what to do (at an Annual General Meeting)
4public companies whose stocks are traded on a stock exchange
5amounts of money paid for services
6companies that own or control several smaller businesses selling very different products or services
7the combined power or value of a group of things working together which is greater than the total power or value achieved when each is working separately
8the total value of a company on the stock exchange (the price of all its stocks)
9companies that are owned by a larger parent company
10 a sum of money reserved to pay a company's retired employees
Ex.3 Explain the following in your own words:
1 the difference between horizontal and vertical integration
2 the difference between backward and forward integration
3 the difference between a raid and a takeover bid
4 the difference between a friendly and a hostile bid
• All public companies face the permanent risk of takeover bids. Is this a good thing for business? What are arguments in favor of and against takeovers and buyouts?
Listening 1: The role of the Competition Commission
CD 2.11You will hear Rory Taylor of the Competition Commission in London talking about its work.
• What do you think a Competition Commission does?