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春夏秋冬眠🖤 · 2021年05月31日

No.PZ2018101501000117 (选择题) 来源: 品职出题 Matt has collected two recent takeover transactions which are similar to the takeover of Company M under consideration. The relevant information is shown in the following table. What`s the average takeover premium for Company M?

NO.PZ2018101501000117

问题如下:

Matt has collected two recent takeover transactions which are similar to the takeover of Company M under consideration. The relevant information is shown in the following table. What`s the average takeover premium for Company M?

选项:

A.

25.37%

B.

24.59%

C.

55.49%

解释:

B is correct.

考点:Comparable Company Analysis

解析:P公司的收购溢价为(44.4-35.7)/35.7 = 24.37%

Q公司的收购溢价为(30.7-24.6)/24.6 = 24.80%

所以平均收购溢价为(24.37%+24.80%)/2 = 24.59%

表格里第二行是什么意思?

1 个答案

王琛_品职助教 · 2021年05月31日

嗨,努力学习的PZer你好:


第二行的数据是收购公布后的股价

如果计算收购溢价,因为其是收购公司向目标公司支付的高于其市场价格的部分,所以要使用表格第三行的数据,即收购价格

也请参考:https://class.pzacademy.com/qa/23337


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