Funeral-home companies thought they could grow by acquisition and cut costs through consolidation.

殡葬公司曾认为能够通过合并以及合并所带来的支出减少而得到成长。

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If, however, the company enters by acquisition, the risk of reaction from industry rivals is reduced.

然而，如果公司通过并购来进入市场，对对手的行为作出反应的风险就降低了。

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ICI spun off its profitable pharmaceutical business (now part of AstraZeneca) rather than build it up by acquisition.

ICI砍掉了它的营利的医药事业(现在是AstraZeneca的一部分)而不是用收购的方式把它建立起来。

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The empire builders who are only happy getting larger by acquisition should be retired with a copper parachute.

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Most big German companies these days are focusing on their core business and spinning off units, rather than building by acquisition.

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Merloni grew both organically and by acquisition, buying Indesit in 1987, Stinol, Russia's top brand, in 1999, and Hotpoint in Britain last year.

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