诸多产业中，由几家公司组成的股份公司，大量生产各种产品。

A corporation made up several companies that produce large quantities of output in a variety of industries.

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股份公司需要各种各样的实物资产来开展公司的业务。

To carry on business, corporations need analmost endless variety of real assets.

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德国股份公司时期，银行和大公司间存在复杂的交叉持股情形，这防止了公司间的恶意收购。但此后，德国改变了很多。

Much has changed in Germany since the days of Deutschland AG, when Banks and big firms had complex cross-holdings that prevented hostile takeovers.

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You have what are called stubs, where one public company owns a significant stake . in another public company.

假如你持有所谓的票根，它是指一家上市公司在另一家上市公司中所,持有的相当比例的股份。

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If you really want to buy the company, you buy up all its equity-- all of its shares--and all of its debt.

如果你想买下公司,就得买下所有股份,所有的股票,还有所有的债务

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They own this firm jointly and they split the profits, so they share 50% of the profits each.

他们共同拥有这家公司并且平分利润,即他们各自持有50%的股份

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