From their first station on, they built the company by acquisition.

"I don't think one can really grow so much by acquisition."

The company strategy is growth by acquisition of overseas companies.

Their huge market values allow them to grow by acquisitions.

Computer Associates may have no choice but to grow by acquisition.

The 1990s saw the beginning of a new strategy - expansion by acquisition not growth.

The only way they could be a major force was by acquisitions.

"The opportunities for growth by acquisitions are more likely to be on the beer side."

It has grown by acquisition in recent years, building itself into one of the country's biggest commercial banks.

From this base they grew by acquisition and opening branches.