关于上市公司被非上市公司收购

问题如下：

Describe the process of going private by a public company.

(备注：原版书课后题原题。和真题的出题形式不同，大家做题时不用纠结题目形式，关注知识点原理即可)

选项：

解释：

Solution

Two common ways for public companies to go private are the leverage buyout (LBO) and management buyout (MBO). An LBO occurs when an outside investor or group of investors borrows money to purchase all of the equity of the public company. A premium to the market price must be paid to convince all shareholders to agree to the LBO. The investors typically pledge the assets of the company against the loan.

An MBO is similar, except that the investors are part of the company’s management team. Another way for a public company to go private is to be acquired by a private company. Once a company goes private, its shares are no longer listed on an exchange. A public company can also be acquired by another public company. When this happens, shares of the acquired company are delisted from the exchange; however, shares of the acquiring company remain listed.