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企业购并行为在西方国家由来已久,曾历经几次高潮,但前几次购并高潮似乎并没有引起人们普遍性的关注,除了“大鱼吃小鱼”之类的议论外,并没有给人留下更加深刻的印象。进入90年代之后,企业购并在工业发达国家、新兴工业化国家愈演愈烈,特别是在1996年,企业购并的狂潮达到了峰巅,许多购并事件都是发生在世界级的跨国公司之间,购并金额之大令世人瞠目,有的超过了200亿美元。1995年美国的企业购并资产总额为5180亿美元,1996年达5500亿美元以上。通信、电子、金融、化工、航空航天、制药等行业中新的“巨无霸”型企业的出现,使人们感到竞争就发生在自己的身边,与自己的生活息息相关。
Corporate mergers and acquisitions have long been in Western countries and have experienced several climaxes. However, the previous few mergers and acquisitions did not seem to have aroused widespread concern. Apart from the arguments like “Large fish eats small fish”, there is no Give people a deeper impression. After entering the 1990s, corporate mergers and acquisitions intensified in industrialized and newly industrialized countries. Especially in 1996, the frenzy of corporate mergers and acquisitions reached a peak. Many mergers and acquisitions occurred between world-class multinational corporations. It has attracted worldwide attention and some have exceeded 20 billion U.S. dollars. In 1995, U.S. corporate mergers and acquisitions totaled 518 billion U.S. dollars, and in 1996 it exceeded 550 billion U.S. dollars. The emergence of new “Macro” companies in the communications, electronics, finance, chemical, aerospace, and pharmaceutical industries has made people feel that competition is happening on their own side and is closely related to their own lives.