Concealed mergers and acquisitions are confusing the market. Why is the concerned side 'concealed'? The paper made discussion combining cases of listed market, China soccer and so on. There're four types of concealed mergers and acquisitions which transform conventional procedure. Of course, concealed mergers and acquisitions have advantages and disadvantages. Authority will expire, as is thought of the principal parts. Charming target enterprise is the objective reason that stirs purchaser's appetite. From Internal point of view, speculators hide their privacies. And from external point of view, they also could excuse that they're forced by specific situations. From chronic dimension, early or late concealed actions would bring uncertainties to both parties. Examined from location dimension, it's a game between different forces. Concealed mergers and acquisitions arouse our rumination: the distance neither close nor apart means risk that any side could suffer dark losses. Concealed mergers and acquisitions supply hothouse for market turbulence, so the 'veil' of concealed part is supposed to be unveiled.
