问题如下：
Matt has collected two comparable companies to Company M and two recent takeover transactions which are similar to the takeover of Company M under consideration. He believes that P/E, P/S, and P/BVPS of these companies could be used to estimate the value of Company M. What`s the fair acquisition price of Company M with the mean takeover premium on recent comparable takeovers based on the stock price of 34.53 estimated by comparable company approach? The relevant information is shown in the following two tables.
选项：
A.$44.07
B.$37.20
C.$40.69
解释：
C is correct.
考点：Comparable Company Analysis
解析：P的收购溢价为(45.0-38.9)/38.9 = 15.68%，Q的收购溢价为(28.2-23.5)/23.5 = 20.00%。所以，平均收购溢价为17.84%。通过可比公司法可得M公司的预计股价为$34.53，考虑收购溢价，acquisition price为34.53*1.1784 = $40.69
老师好， 题目中说with the mean takeover premium on recent comparable takeovers based on the stock price of 34.53 estimated by comparable company approach 为什么还要通过P &Q 算出take over premium? 谢谢。
