[填空题]
·Read the article about management buyouts of companies．
·Choose the best sentence to fill each of the gaps．
·For each gap(9-14)，mark one letter(A-H)on your Answer Sheet．
·DO not use any Ietter more than once．

{{B}} Management Buy-outs of Companies {{/B}}
Involving staff in management buy-out(MBO)negotiations can help smoo．th the path for the future．Employees are becoming increasingly familiar with the fluctuations and instability that their working environments can present．It’s not just mergers and acquisitions that can upset the situation．Internal MBOs can also be particularly unsetting for employees．In some cases，the MBO takes place to save an ailing company．In others，it is the result of senior management and board disagreements，or is to prevent a hostile takeover bid．{{U}} (9) {{/U}}．This insecurity can be very damaging．One of the most important factors，often not considered during the process of

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