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肖瀚 · 2022年03月06日

请问关于statement 1的知识点具体在讲义哪一页呀

  1. CFA II
  2. Corporate Issuers

NO.PZ2021102201000046

问题如下：

Kinetic Corporation is considering acquiring High Tech Systems. Jim Smith, the vice president of finance at Kinetic, has been assigned the task of estimating a fair acquisition price for High Tech. Smith is aware of several approaches that could be used for this purpose. He plans to estimate the acquisition price based on each of these approaches, and has collected or estimated the necessary financial data.

While discussing his analysis with a colleague, Smith makes two comments. Smith’s first comment is: "If there were a pre-announcement run-up in Quadrant’s price because of speculation, the takeover premium should be computed based on the price prior to the run-up." His second comment is: "Because the comparable transaction approach is based on the acquisition price, the takeover premium is implicitly recognized in this approach."

Are Smith’s two comments about his analysis correct?

选项：

A.

Both of his comments are correct

B.

Both of his comments are incorrect

C.

His rst comment is correct, and his second comment is incorrect

解释：

A is correct. Both of Smith’s statements are correct. If there was a pre-announcement run-up in Quadrant’s price because of speculation, the takeover premium should be computed based on the price prior to the run-up.

Because the comparable transaction approach is based on the acquisition price, the takeover premium is implicitly recognized in this approach.

请问关于statement 1的知识点具体在讲义哪一页呀

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1 个答案

王琛_品职助教 · 2022年03月07日

嗨，从没放弃的小努力你好：


请参考基础班讲义 P189

道题我之前刚好总结过，这个题目涉及的 Case 2022 只剩这一道小题了，但是我之前写的分析是适用的，因为涉及背景及具体考点，请同学先参考一下：https://class.pzacademy.com/qa/79530

----------------------------------------------
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.PZ2021102201000046 问题如下 Kinetic Corporation is consiring acquiring High TeSystems. Jim Smith, the vipresint of finanKinetihbeen assignethe task of estimating a fair acquisition prifor High Tech. Smith is aware of severapproaches thcoulusefor this purpose. He plans to estimate the acquisition pribaseon eaof these approaches, anhcollecteor estimatethe necessary financita.While scussing his analysis with a colleague, Smith makes two comments. Smith’s first comment is: \"If there were a pre-announcement run-up in Quaant’s pribecause of speculation, the takeover premium shoulcomputebaseon the priprior to the run-up.\" His seconcomment is: \"Because the comparable transaction approais baseon the acquisition price, the takeover premium is implicitly recognizein this approach.\" Are Smith’s two comments about his analysis correct? A.Both of his comments are corre B.Both of his comments are incorre C.His first comment is correct, anhis seconcomment is incorre A is correct. Both of Smith’s statements are correct. If there wa pre-announcement run-up in Quaant’s pribecause of speculation, the takeover premium shoulcomputebaseon the priprior to the run-up.Because the comparable transaction approais baseon the acquisition price, the takeover premium is implicitly recognizein this approach. 如题 谢谢

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