How to Price a Share for Acquisition
How to Price a Share for Acquisition
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如何为收购股票定价
DOI：
10.1177/0256090919860103
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发表时间：
1986
期刊：
影响因子：
--
通讯作者：
M. Roy
中科院分区：
文献类型：
--
作者：
M. Roy
尽管收购正在成为多元化的重要手段，但目前还没有一种既定的技术，可以将涉及的不确定性纳入其中，并提供目标公司的一系列价值，以形成报价的基础。利用收购后公司现金流的模型，马来人Kanti Roy模拟了收购India Cement可能产生的现金流，以获得关键变量的各种值，如增长率和息税前收益。他展示了这样的模型和模拟分析如何帮助谈判者设定收购报价的上限和下限。
Although take‐overs are becoming important means of diversification, there is no established technique which incorporates uncertainties involved and gives a range of values of a target firm which can form the basis for offering a price. Using a model of the firm's cash flows after acquisition, Malay Kanti Roy simulates the likely cash flow streams from the acquisition of India Cements for various values of the key variables such as growth rate and earnings before interest and taxes. He shows how such models and simulation analyses can help negotiators set upper and lower limits for a take-over bid.