Match the merger wave to its description. Question 4 options: Predominantly vertical mergers, ending at the outset of the Great Depression Occurred at the end of the 19th century, into the early 20th century Ended with the housing crash and the beginning of the Great Recession Marked by hostile take-overs, ending with the crash of 1987 Occurred in the mid-20th century, at the height of managerial capitalism Characterized by top management of productive corporations beginning to see their companies as 'mutual funds with smokestacks'. Sometimes called the first 'anti-merger wave' The first wave of the era of Money Manager Capitalism and the use of 'junk bonds' to finance hostile takeovers. Predominantly horizontal mergers for the purpose of reducing and regulating competition Driven in part by managers taking advantage of stock market 'euphoria' during the dot-com bubble, sometimes - for instance, in the case of Enron - involving accounting fraud. During the 1920s, partly the result of financial experts in New York and Chicago thinking themselves 'financial geniuses'. 1. The First Merger Wave 2. The Second Merger Wave 3. The Third Merger Wave 4. The Fourth Merger Wave 5. The Fifth Merger Wave 6. The Sixth Merger Wave