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Hugogooo · 2020年07月05日

问一道题:NO.PZ2018101501000125 [ CFA II ]

问题如下:

National Plastics Corp. is a leading manufacturer of high-quality injection-molded plastic packaging materials used by various industries, primarily food and beverage processing and packaging firms.

On 4 January 2013, Haines Foods, Inc., launched a hostile takeover bid for all of the shares of National at $30 per share (a $5 premium in excess of the pre-bid price). Haines Foods is a national distributor of deli and dairy products. If its bid is successful, it plans to continue to operate National as a wholly owned subsidiary.

If Haines Foods is successful in its attempt to acquire National Plastics, the business combination is best classified as which type of merger?

选项:

A.

Vertical, backward

B.

Horizontal, conglomerate

C.

Vertical, forward

解释:

If Haines acquires National, it would be a vertical merger because they are both in the same production chain. It is an example of backward integration because Haines is closer to the consumer than the packaging manufacturer.

为啥食品行业,和包装行业,属于上下游?不是很理解
1 个答案

王琛_品职助教 · 2020年07月06日

同学你好,

题目中已经明确交代了上下游关系哈。

N 公司是高品质的注塑塑料包装材料制造商,产品用于各行业,主要客户为食品和饮料加工和包装公司。

H 公司是一家全国性的熟食和乳制品分销商,已经有成品,需要将食品包装好再出售给下游客户。

所以两家公司属于统一产业链,H 公司更靠近消费者,属于下游;N 公司属于上游。