因此，将只有可能通过“俱乐部式并购”实现，即几个买家捆绑在一起，监管者将监督整个安排以确保他们没有幕后交易。

Acquisitions are thus only possible via "club" deals, in which several buyers band together and regulators police the arrangement to ensure they are not acting in concert thereafter.

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宏观上，排污权的交易有利于降低整个社会控制环境总成本和实现资源优化配置。

And in macroscopic view, it also helps reduce the whole cost for environmental control and optimal allocation of resources in the whole society.

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