兼并收购概念理论之一:概览和购买策略 课后测试80分

概述和买方策略

单选题(共4题,每题20分)

1 . There are two kinds of buyer synergies in a Mergers and Acquisitions

deal. Which kind is the easiest for the buyer to achieve(合并和收购交易中有两种买方协同效应。买方最容易实现哪一种)?

∙ A.Revenue synergy(收入协同)

∙ B.Cost synergy(成本协同)

我的答案: B

2 . What percent of global Mergers and Acquisitions is emerging markets

based(新兴市场兼并和收购占全球的百分比为多少)?

∙ A.10%

∙ B.15%

∙ C.30%

∙ D.25%

我的答案: D

3 . The publicly-traded stock of an acquiring company trades at 15x

earnings per share (EPS), or a 15x P/E ratio. During the year, the company buys four smaller (but similar) businesses at a 10x P/E ratio. This practice of buying firms at a lower P/E ratio is called[收购公司的公开交易股票以15倍的每股收益(EPS)或15倍的市盈率交易。在这一年中,该公司以10倍的市盈率购买了四家规模较小(但相似)的业务。这种以较低的市盈率购买公司的做法被称为]:

∙ A.Arbitrage(套利)

∙ B.Quantitative Flexing(定量弯曲)

∙ C.P/E Ratio accretion(市盈率增长)

∙ D.Positive Synergy(积极的协同作用)

∙ E.Value Multiple Expansion(价值倍数扩展)

我的答案: A

4 . Why do China and many other emerging markets restrict Mergers and

Acquisitions(为什么中国和其他新兴市场会限制兼并和收购)?

∙ A.Governments believe Mergers and Acquisitions is unproductive(政府认为兼并和收购不具有生产力)

∙ B.Governments worried about possible layoff from competitors combining and political unrest(政府担心可能因竞争对手合并而导致裁员和政局动荡)

∙ C.Governments worry about local capital being directed offshore(政府担心本地资本被引导到海外)

我的答案: B

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