Who says there is no M&A any more? WPP made no fewer than 40 acquisitions, in 21 countries, in the first half of 2012. That is nearly two a week. Sir Martin Sorrell must have an awful lot of air miles. (Actually, due diligence in many cases is done by sector and country heads.) Can it continue? Yes – it probably needs to. WPP generated about 30 per cent of its £5bn of first-half revenue in fast-growing markets such as Asia-Pacific and Latin America, and the same from digital advertising. WPP wants those proportions to rise to 35 to 40 per cent.
誰說現在沒有企業併購(M&A)？2012年上半年，WPP集團在21個國家進行了不下40次收購。近乎於每週兩次。蘇銘天爵士(Sir Martin Sorrell)爲此積攢的航空里程數肯定多得驚人。（事實上，許多收購案的盡職調查都是由部門及所在國家的主管完成的。）這可持續嗎？可以——或者說有必要。WPP上半年50億英鎊的營收中，約30%來自亞太和拉美等快速成長中的市場，還有同樣比例來自數字廣告。WPP想把這些比例提高至35%至40%。