Pfizer's proposed acquisition requires approval by regulators in both the United States and Europe.

"Utility executives are extremely conservative and mergers and acquisitions require risk," he said.

The acquisition requires the approval of shareholders from both companies.

Whereas the acquisition of craft skills required experience-based learning, he argues that this process necessitated many years in apprenticeship.

Microsoft said the acquisition would require antitrust review.

Fishing effort is controlled by a licensing system, where acquisition, construction or modification of vessels requires prior authorization.

The acquisition still requires the approval of antitrust authorities.

The necessary acquisition, development or modernisation of controls may require considerable financial input.

This proposed acquisition will require government and regulatory approvals in China.

The acquisition of valuable and extensive property, therefore, necessarily requires the establishment of civil government.