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.
谁说现在没有企业并购(M&A)？2012年上半年，WPP集团在21个国家进行了不下40次收购。近乎于每周两次。苏铭天爵士(Sir Martin Sorrell)为此积攒的航空里程数肯定多得惊人。（事实上，许多收购案的尽职调查都是由部门及所在国家的主管完成的。）这可持续吗？可以——或者说有必要。WPP上半年50亿英镑的营收中，约30%来自亚太和拉美等快速增长中的市场，还有同样比例来自数字广告。WPP想把这些比例提高至35%至40%。