[单项选择]Companies have embarked on what looks like the beginnings of a re-run of the mergers and acquisitions (M&A) wave that defined the second bubbly half of the 1990s. That period, readers might recall, was characterized by a collective splurge that saw the creation of some of the most indebted companies in history, many of which later went bankrupt or were themselves broken up. Wild bidding for teleeoms, internet and media as- sets, not to mention the madness that was Daimler’ s $ 40 billion motoring takeover in 1998—1999 of Chrysler or the Time-Warner/AOL megs-merger in 2000, helped to give mergers a thoroughly bad name. A consensus emerged that M&A was a great way for in- vestment banks to reap rich fees, and a sure way for ambitious managers to betray investors by trashing the value of their shares.
Now M&A is back. Its return is a global phenomenon, but it is perhaps most striking in Europe, where so far this year there has been a stream of deals worth more than $ 600 billion in t
A. the striking necessity of European caveat
B. the complicated documents combined markets
C. the global phenomenon of the craze of wild bidding for media assets
D. the seeming rationality of the latest cycle of European mergers