A vehicle of acquisitions

Hi everyone,

could anybody explain to me the meaning of the following sentence: "The price of stock has become much more important, both for raising capital and as a vehicle for acquisitions (or, in the case of a low price, as an enticement for being acquired)."

The context is as follows:

"In the United States, shareholders have become more assertive and the stock market has become more discriminating in favor of managers who are committed to maximizing profits. Success is measured by short-term performance and managers are rewarded by stock-options rather than perks. In Europe, companies used to de-emphasize profits, both in their public image and in their public accounts. This was because higher profits tended to generate higher wage demands and it was considered inadvisable to attract attention to the profitability of the enterprise. But the pressure of global competition has served to moderate wage demands and shifted the emphasis to the need to finanse expansion. The creation of the European Union as a single market with a single currency has set off a scramble for market share. The price of stock has become much more important, both for raising capital and as a vehicle for acquisitions (or, in the case of a low price, as an enticement for being acquired). Social goals, such as providing employment, have to take second place. Competition has forced consolidation, downsizing, and the transfer of production aborad. These are important factors in creating a persistently high level of unemployment in Europe."

I would appreciate any hints as to how interpret the sentence.