In a majority of industries, the market share of the top three firms has increased, partly due to the merger and acquisition activity that some mistakenly hail as a reform.
What does it mean?
I believe "Merger and Acquisition" is a department of its own in financial institutions and related businesses. The merger and acquisition activity refers to what these kind of department do (buying other companies and/or carefully planning for that) as a noun. Basically, this means the market has been consolidating.
FRC
Thanks, FRC.
You can see two movies back-to-back for the price of one.
Have you seen "The Rocky Horror Picture Show?" I can still hum along the lyrics, "Wo oh oh oh oh oh At the late night, double feature, picture show." I saw it in SanFrancisco. You can see a group of walk-on and actors acting in front of a screen. Audience can enjoy the movie on the screen and watching real actors playing on the stage.
Right?
Back to back means several in a row. I haven't seen the movie/show you mention, but back to back would mean the actors play before or after the movie, not at the same time.
FRC
This is a double feature, which means you can see two movies back-to-back for the price of one.
I see. back-to-back means 'continuously' here. Thanks, FRC.