How do acquisitions, mergers, joint ventures, and leveraged buyouts work?

"Acquisition: The purchase of a target company by another corporation or by an investor group typically negotiated with the target company board of directors. Board of directors: A group of people elected by the stockholders to handle the overall management of a corporation, such as setting major corporate goals and policies, hiring corporate officers, and overseeing the firm’s operations and finances. Conglomerate merger: A merger of companies in unrelated businesses; done to reduce risk. Horizontal merger: A merger of companies at the same stage in the same industry; done to reduce costs, expand product offerings, or reduce competition. Joint venture: Two or more companies that form an alliance to pursue a specific project, usually for a specified time period. Leveraged buyout (LBO): A corporate takeover financed by large amounts of borrowed money; can be started by outside investors or the corporation’s management. Merger: The combination of two or more firms to form one new company."