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在未来取胜的公司越来越多是那些学得较快、行动迅速和快速适应的公司。这些公司一旦行动起来,会渐渐地创造出长期性的、持久的经济价值。而兼并收购无疑创造了并且还在创造着诸多的企业扩张神话。上个世纪末随着中国资本市场的形成和发展,人们开始日益关注那些长袖善舞的资本运作高手,企业高速扩张的事实造就了一批资本市场上的英雄。然而,当我们还在惊叹于当年美国在线和时代华纳大手笔的资本运作时,如今面对的却是近1000亿美元的亏损。我们的确到了该好好反思一下并购市场的现在和将来的时候了。
More and more companies that win in the future are those who learn faster, act quickly and adapt quickly. Once these companies act, they will gradually create long-lasting, lasting economic value. Mergers and acquisitions have undoubtedly created and are still creating many corporate expansion myths. At the end of the last century, with the formation and development of China’s capital market, people began to pay close attention to those capital masters who are good at long-sleeved dances. The fact that companies are expanding rapidly has created a group of heroes in the capital market. However, when we were still amazed at the large-scale capital operation of AOL and Time Warner, it was now facing a loss of nearly 100 billion U.S. dollars. It is indeed time for us to reflect on the present and future of the M&A market.