日韩av免费观看一区二区欧美成人h版在线观看|av日韩精品一区在线观看|18岁女人毛片免费看|国产黄色伦理片在线观看|免费看高潮喷水|邻居人妻电影,|久久中文字幕人妻熟av|极乱家族6|蜜久久久91精品人妻|人妻被x,色色色97大神,日韩高清无码一区二区,国产亚洲欧美一区二区三区在线播放

當(dāng)前位置: 東奧會(huì)計(jì)在線> 財(cái)會(huì)答疑> ACCA > AFM > 答疑詳情

2018/sep/Q3(a)synergy計(jì)算

可以直接用系數(shù)8乘增加的權(quán)益現(xiàn)金流5求得synergy為40嗎?combined company value=synergy+c company+s company=40+60+325=425m這樣計(jì)算可以嗎,?

Financing M&A 2023-01-14 14:14:14

問題來源:

Chawon Co has 2 million $1 shares in issue, and Selorne Co has 50 million $0.50 shares in issue. Each Selorne Co share is currently trading at $6.50, which is a multiple of 8 of its free cash flow to equity. The multiple of 8 can be assumed to remain unchanged if the acquisition takes place. Chawon Co’s free cash flow to equity is currently estimated at $7 million, with an expected annual growth rate of 3%, and it is expected to generate a return on equity of 15%. Chris Chawon expects that the total free cash flows to equity of the combined company will increase by $5 million due to synergy benefits.

He believes that Selorne Co will be able to win more contracts because it is larger and because it will be diversifying the services which it offers. He also believes that significant operational synergies can be achieved, pointing out the time Selorne Co drivers spend idle during the winter months when removal activity is traditionally lower. Chris Chawon believes that he can achieve the synergies if he is given management responsibility for the operational reorganisation, including dealing with the staff employment and retention issues. Chris Chawon thinks that synergies could also be achieved in central administration and in premises costs.

查看完整問題

李老師

2023-01-16 09:20:51 1041人瀏覽

哈嘍,!努力學(xué)習(xí)的小天使:

不可以,。題中給的條件是:S的current equity value是它的free cash flow to equity的8倍,;Combined company valuation也是它free cash flow to equity的8倍,。但是C公司并不符合這個(gè)條件,。
所以計(jì)算synergy value要用combined company value-c company value-s company value,。

每個(gè)努力學(xué)習(xí)的小天使都會(huì)有收獲的,加油,!
有幫助(9) 答案有問題,?
熱門知識(shí)點(diǎn)
輔導(dǎo)課程
24年ACCA新課

我們已經(jīng)收到您的反饋

確定