Firstly, according to merger objectives' industry, mergers are often categorized as horizontal, vertical, mixed or conglomerate mergers;

第一、公司兼并收购，依被并购对象所在行业部门来划分，被分为横向并购、纵向并购，混合并购。

Most of the conglomerate merger in early stage are proved to be defeated and unreasonable, which didn't improve the expected profit but reducing the operation efficiency of the company.

但早期大多数的多元化并购已被实践证明是失败的、不合理的，它不仅没有带来预期的收益提高，反而降低了企业的运行效率。

But in our country, there is lack of enough cognition, effective theory, and advocacy of law to rule the monopoly behavior that now causes by enterprise merger, especially by conglomerate mergers.

但我国目前对企业合并所致的垄断行为的规制由于缺乏足够的认识以及有力的理论和法律支持而倍显乏力，对混合合并行为导致的垄断更是无心过问。

Mr Kotick's greatest coup was the merger of Activision with the gaming arm of Vivendi, a French media conglomerate, completed last year.

科迪克的绝顶高招要属去年完成的合并动视公司和威望迪游戏分支，威望迪是法国的一个媒体集团。

According to the industries relationships of both sides, we can divide the merger into three types, such as the horizontal, vertical and conglomerate.

按照并购双方行业的相互关系，并购可以分为横向、纵向和混合三种类型。