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HORIZONTAL MERGER: The consolidation under a single ownership of two separately-owned businesses in the same industry. An example of a horizontal merger would be two soft drink companies merging to form a single firm. A horizontal merger should be contrasted with vertical merger--two firms in different stages of the production of one good, such that the output of one business is the input of the other; and conglomerate merger--two firms in totally, completely separate industries.
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Al Capone's business card said he was a used furniture dealer.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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GNMA
Government National Mortgage Association
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