In your second sentence, STAND means "be in a position to" What do firms think they stand to gain by merging? - What do firms think they are in a position to gain by merging?

It never stood a chance means "it was doomed from the beginning". To stand a chance is to have a small chance of being successful at something. "She never stood a chance at getting that job." means: "She was extremely unlikely to get that job". Hope this helped a little, David!

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