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Wall Street Thinks Planet Is Set On $4bn Bid For Grape

Grape Computer was yesterday the target of speculation about an imminent $4 billion takeover by Planet Microsystems, the new power in the computing world. __H__. Grape and Planet remained silent about a possible alliance, but Grape shares leapt on Wall Street, the New York stock market, in anticipation of a bidding war.

Grape has been at the center of takeover rumors for months, as its financial fortunes have worsened. __9__. As a result of this poor financial performance, the company has also announced that it is making up to 1,300 employees redundant.

Losses during the normally lucrative Christmas period had analysts on Wall Street wondering whether Grape could survive. __10__. With falling demand for its products, and increasing competition, it seems unlikely that the ailing company will be able to survive another year unaided.

Under Andrew Whiting, its chief executive, Grape has been troubled by mistakes and misjudgments. Senior management are regarded as responsible for a series of costly miscalculations about product marketing and corporate strategy. __11__. Computer experts have also been quick to criticizewww.kao8.cc Grape’s technical program: spending on research and development was cut at a time when other companies were bringing out innovative new products. __12__.

According to the Wall Street Journal, Planet’s chief executive, David Murray, has been meeting “around the clock” with aides putting the finishing touches on an offer to acquire Grape, which is based in Cupertino, California. __13__. On Wall Street today, Grape shares were up $1 to $32.25, as dealers anticipated a bid by Planet for its troubled rival.

Planet Microsystems, based in Mountain View, California, has been pursuing Grape since September, but talks were suspended two weeks ago as Planet waited for Grape shares to drop. __14__. As such, they have now taken over the position held by Grape in the 1980s.

A. It is Grape’s failure to keep up with the latest technical advances which has been seen as crucial to their downfall.

B. “If you can’t survive at the time of year when the retail market is at its strongest, something’s really wrong,” said one market analyst.

C. Such an acquisition would come in the form of a share swap valued at about $4 bn-or roughly $33 per Grape share.

D. A producer of workstations-powerful desktop computers used mainly in research and engineering, Planet Microsystems is the rising star in the computer world.

E. The result has been shrinking market share, loss of key executives and falling morale.

F. Last week, the company that was once at the forefront of the personal computer revolution announced a $69 million loss for the quarter which ended on December 29.

G. Grape’s recovery dates from the management’s decision to increase their share in the European market.

H. News of a potential deal emerged as Grape began what could be its last annual shareholder meeting as an independent company.

返指方法一：用this;that和他们的复数形式these和those清楚地返指前文中提到的事物和事实;用such作为限定词或形容词返指刚刚提及的事物。如本练习中的：9，10，13，14。

重要词汇和表达：

Speculation; imminent; takeover; bidding; at the center of; redundant; lucrative; put the finishing touches on; acquire; swap; forefront;

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2014年商务英语考试高级阅读复习汇总