由於大鵰回家，我放假 所以让我越俎代po一下 以下是汤老师的回信内容 Dear All: Assinged questions for Crown case are as follows: 1. Should Crown try to extend its global reach by acquiring CMB? What are the advantages/disadvantages of being a global seller? A global buyer? 2. What is the maximum price/share Crown should offer to acquire all of CMB's common stock? Assume the following: a. Growth in annual sales for CMB starting at 6% in 1995 and trailing off to 3% by the year 2000. b. Raw material purchased asvings for the combined firm equal to 0.005 of CMB's sales in 1996, rising to 0.015 of CMB's sales by 1998. c. Reduction of CMB's SG&A/sales ratio of 0.01 in 1996, rising to 0.02 by 1998 d. An 11% cost of capital for the acquisition. e. You may change these assumptions and substitue them with your reasonable assumptions. 3. If NONE of the cost efficiencies assumed above could be realized by Crown, how much would a CMB common share be worth to Crown? 学弟妹加油噜，老汤的嘴巴虽然贱一点，但是相信你们可以学到很多低 --

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