此次購併的題目
由於大鵰回家，我放假
所以讓我越俎代po一下
以下是湯老師的回信內容
Dear All:
Assinged questions for Crown case are as follows:
1. Should Crown try to extend its global reach by acquiring CMB?
What are the advantages/disadvantages of being a global seller?
A global buyer?
2. What is the maximum price/share Crown should offer to acquire all of
CMB's common stock? Assume the following:
a. Growth in annual sales for CMB starting at 6% in 1995 and trailing off
to 3% by the year 2000.
b. Raw material purchased asvings for the combined firm equal to 0.005 of
CMB's sales in 1996, rising to 0.015 of CMB's sales by 1998.
c. Reduction of CMB's SG&A/sales ratio of 0.01 in 1996, rising to 0.02 by 1998
d. An 11% cost of capital for the acquisition.
e. You may change these assumptions and substitue them with your reasonable
assumptions.
3. If NONE of the cost efficiencies assumed above could be realized by Crown,
how much would a CMB common share be worth to Crown?
學弟妹加油嚕，老湯的嘴巴雖然賤一點，但是相信你們可以學到很多低
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