Vertical: Merger and acquisition between enterprises that have close business ties and are at different stages of production and sales process

Conglomerate: Mergers and acquisitions in different industries that have no connection in terms of business operations at all

Leveraged buy-out: The main source of funds for the acquirer is external debts, that is, borrowing from banks or in the financial market.

Non leveraged buy-out: The main source of funds for the acquirer is free funds.

Private enterprise: Carried out by non-financial enterprises, with the aim of obtaining future profits from the industry.

Financial capital: It is usually acquired by investment banks or non-bank investment institutions.

Tender offer: The acquirer and the target company reached an agreement through friendly consultation on the terms of the merger and acquisition. The merger and acquisition were realized when both parties reached a consensus.

Hostile: The acquirer disregarded the will of the target company and forcefully carried out the acquisition of the enterprise by resorting to coercive measures.

Although the plot of this drama is fictional, its genre originates from real prototypes. Among them, there are many details that are worthy of our discussion and reflection. From this, it can be seen that in the capital market, some mergers and acquisitions are not carried out with the aim of achieving a win-win situation. On the contrary, some mergers and acquisitions are meticulously designed to hollow out the target enterprises. It profoundly reflects the inherent contradiction between capital and humanistic sentiment. For instance, when the employees' list of those who lost their jobs due to the merger was read out at the employee assembly by the target company, the camera swept over Bobby, the merger initiator, whose expression was cold-blooded and starkly contrasted with the solemnity of this tragic occasion.

This drama reveals the dark side of modern enterprise acquisitions. In the fifth season, one of the acquirer launched the proposal of acquisition under the purpose of increasing the scale of the company. In the meeting room, the financial experts were presenting the synergy effects with PPTs. However, the actual purpose of this acquisition is more complex, they utilize the acquisition to obtain more capital and power.

In conclusion, some merge and acquisitions are not positive, on the contrary, some of them may just aim to achieve their own purpose and not care about the effects of acquired enterprise.