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  • Subject

    "to shore up debts"


    aus: Farsam Farschtschian - The Reality of M&A Governance: Transforming Board Practice for Success

    "When a sense of urgency guides decisions, acquisitions are made in order to stabilise, to compensate for unpredicted market changes, to shore up debts and so on and while this can lead to short-term profits (but often even this), it does not result in creating a strong company in the long-run."


    Kann mir jemand sagen, was "to shore debts" bedeutet?

    "Werden Entscheidungen von einem Gefühl der Dringlichkeit geleitet und zur Stabilisierung oder zum Ausgleich unvorhergesehener Marktveränderungen Akquisitionen getätigt, Schulden ... (?) usw., kann dies zwar zu kurzfristigen Gewinnen führen (oft aber noch nicht einmal dazu), doch es führt langfristig nicht zur Etablierung eines starken Unternehmens."


    Author J_u_l_i_a (922683) 12 Mar 19, 20:07
    I might parse the English sentence differently:

    A sense of urgency guides decisions. This sense of urgency results in acquisitions intended 1) to stabilize (the company), 2) to compensate for unpredicted market changes, 3) to shore up debts, 4) and so on.

    My understanding of to shore up debts is that a company would add assets to its balance sheet to serve as a counterweight to the debts it already has. That could seem counterintuitive, though, since an acquisition would either use up existing assets (cash, securities) or would require taking on more debt (loans, corporate bonds). But presumably the company hopes that the asset being acquired will throw off more than enough income to service the new as well as the existing debts. Or the company making the acquisition will strip the acquired company of its assets e.g. sell off parts of it and use that to service or retire debt.

    #1Author patman2 (527865) 12 Mar 19, 20:57

    Danke für die Erklärung. Ist also die nachfolgende Übersetzung korrekt?

    "Werden Entscheidungen von einem Gefühl der Dringlichkeit geleitet, kann dies zu Akquisitionen führen, die das Unternehmen stabilisieren, unvorhergesehene Marktveränderungen kompensieren, Schulden ausgleichen, usw. Diese können zwar kurzfristig zu Gewinnen führen (oft aber noch nicht einmal dazu), langfristig aber kein starkes Unternehmen etablieren."

    #2Author J_u_l_i_a (922683) 12 Mar 19, 22:13
    At first glance, the idea of "in order to" seems missing. Maybe: …kann dies zu Akquisitionen führen, die dafür gedacht sind, das Unternehmen zu stabilisieren, unvorhergesehene Marktveränderungen zu kompensieren, Schulden auszugleichen, usw. Or just put a "sollen" at the end of the list of verbs? Native speakers will probably have something better for you and can comment on the entire translation.
    #3Author patman2 (527865) 12 Mar 19, 22:59
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