Mergers and acquisitions (M&A) are both aspects of strategic management,corporate finance and management dealing with the buying,selling,dividing and combining of different companies.

翻译：兼并和收购（缩写为M&A）涉及战略管理、企业融资等方面的内容，涉及如何实现不同的公司购买、出售和分拆行为。

常见词汇：

横向收购horizontal acquisition

纵向收购vertical acquisition

混合收购mixed acquisitions

战略收购strategic acquisition

多元化经营diversification

规模效应economies of scale

范围效应economies of scope

交易成本transaction cost

市场竞争market competition

企业风险enterprise risk(www.daowen.com)

财务成本financial cost

整合核心竞争力integration of core competitiveness

总结模板：

Mergers & acquisitions has become a strategy of enterprise management prevailing for a time throughout the globe in current society where the state of capital running increasingly embodies a result of enterprise management.An upsurge of mergers & acquisitions rose in our domestic enterprises in these years.Nevertheless,those which have proved to be a real success were not many.Most mergers & acquisitions cases end in failure,just like ××× Company.

I think there are two reasons：on one hand,mergers& acquisitions is highly risky on its own from a strategic point of view; on the other hand,the failure to synergize between two companies tends to curb the mergers &acquisitions to succeed.

In a word,mergers & acquisitions have risks,so you should be cautious when making one.

That’s all,thank you.

模板翻译：

在资本运营状况越来越能够表明企业经营业绩的当今社会，重组战略已成为全球盛行的一种企业经营战略。我国企业在近几年也兴起了一股重组并购的热潮，但真正成功的企业不多,多数并购案例以失败告终，就像×××公司一样。

究其原因，我认为一方面是由于重组战略本身的风险较高，另一方面在于企业间的文化融合。

总之一句话：兼并有风险，整合需谨慎。