Assuming the starting phrase is in A1, the second in A2, and the third in A3,
Private Sub Worksheet_Change(ByVal Target As Range)
If Not Intersect(Target, Me.Range("A1,A2,A3")) Is Nothing Then
On Error GoTo Oops
Application.EnableEvents = False
With Me.Range("A155")
.Value = Trim(Me.Range("A1").Text & " " & _
Me.Range("A2").Text & " " & _
Me.Range("A3").Text)
.Characters(Start:=Len(Me.Range("A1").Text) + 2, _
Length:=Len(Me.Range("A2").Text)).Font.Bold = True
End With
Oops:
Application.EnableEvents = True
End If
End Sub
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