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Angela · 2024年09月08日

解题技巧是什么

* 问题详情,请 查看题干

NO.PZ202210140300000203

问题如下:

The weight of equity in Stratton’s capital structure as a result of the acquisition of Midwest assuming Lee’s two assumptions is closest to:

选项:

A.

29%.

B.

71%.

C.

81%.

解释:

B is correct. Following the close of the acquisition, Stratton expects its outstanding debt to total USD62 billion, after assuming USD4.3 billion in existing Midwest debt and issuing USD26 billion. Therefore, prior to the acquisition, Stratton had approximately (62 – 4.3 – 26 =) USD31.7 billion in debt and (1.096 billion shares outstanding × USD125 per share =) USD137.0 billion in equity, resulting in a mix of debt and equity of 19% and 81%, respectively. After the acquisition, Stratton will have USD62 billion in debt and (1.096 billion + 104 million =) 1.2 billion shares outstanding, which, priced at USD125 per share, results in USD150 billion in equity, resulting in a mix of debt and equity of 29% and 71%, respectively. The change in capital structure is summarized below


A is incorrect because 29% represents the percentage of debt after acquisition.

C is incorrect because 81% represents the percentage of equity prior to acquisition.

如何快速定位到对应题干内容?如何在这么多科目数据中快速找到想要的数据?

1 个答案

Kiko_品职助教 · 2024年09月10日

嗨,爱思考的PZer你好:


这类题目稍微有点难度,因为确实条件太多了,容易懵。但是也别慌,其实这个题目很常规,道理也不难懂。关于详细的解题思路,建议同学去听一下我们基础班的例题(截图如下),一模一样的,只是数字不同。考试的时候也基本就是换换数字。这类题目,从问题出发去思考,然后去找对应的条件是比较快速的做法。问的是收购之后equity的权重,那么需要找一下收购之后的debt是多少,equity是多少。收购之后的debt已经给了,找equity就可以了,equity就是股数*每股价格。每股价格125,股数之前是1.096billion,收购之后增加了104million,总共就是1.2个billion。相乘就求出equity了。所以weight也就去出来了。


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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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NO.PZ202210140300000203问题如下 The weight of equity in Stratton’s capitstructure a result of the acquisition of Miest assuming Lee’s two assumptions is closest to: A.29%.B.71%.C.81%. B is correct. Following the close of the acquisition, Stratton expects its outstanng to totUS2 billion, after assuming US.3 billion in existing Miest anissuing US6 billion. Therefore, prior to the acquisition, Stratton happroximately (62 – 4.3 – 26 =) US1.7 billion in an(1.096 billion shares outstanng × US25 per share =) US37.0 billion in equity, resulting in a mix of anequity of 19% an81%, respectively. After the acquisition, Stratton will have US2 billion in an(1.096 billion + 104 million =) 1.2 billion shares outstanng, which, priceUS25 per share, results in US50 billion in equity, resulting in a mix of anequity of 29% an71%, respectively. The change in capitstructure is summarizebelowA is incorrebecause 29% represents the percentage of after acquisition. C is incorrebecause 81% represents the percentage of equity prior to acquisition. 题目里说总对价里包含被收购公司4.3b的债务,但是并没有说增加自己的bt来还掉这4.3b呢,也有可能是用增发股票融来的钱去还这4.3b的bt,为什么解析里会把这4.3b包含在收购后的bt里呢?

2024-09-26 16:32 1 · 回答

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2024-01-03 22:41 1 · 回答