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美国历史上的第一次企业购并浪期发生在19世纪末至20世纪初,从1895——1904年共发生企业购并3010起,主要特征是横向购并,即生产同类产品企业之间的购并,目的是为了形成大企业,以取得垄断地位和规模经济。第二次企业购并浪潮发生在本世纪20年代,1919——1930年间共有12000家企业在购并中消失。这次购并的突出特点是纵向购并,即大企
The first wave of corporate mergers and acquisitions in the history of the United States took place between the end of the 19th century and the beginning of the 20th century. A total of 3010 mergers and acquisitions took place between 1895 and 1904. The main feature of this merger was horizontal mergers and acquisitions (M & A) It is for the formation of large enterprises in order to gain monopoly status and economies of scale. The second wave of corporate acquisitions took place in the 1920s, when 12,000 companies disappeared in the 1919-1930 merger. The outstanding feature of this acquisition is vertical mergers and acquisitions, that is, big business