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.
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Debt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debt，为什么解析里会把这4.3b包含在收购后的debt里呢？
