lecture 16 兼并收购与资产重组.pptVIP

Lecture 17 兼并收购与资产重组 内容提要 兼并收购的基本概念 并购估值定价和支付手段 并购的会计处理 反收购策略 杠杆收购与管理层收购 What is a “Takeover?” Acquisition Proxy contest Going private Takeovers Control of a firm transfers from one group to another(控制权的转移） Possible forms Acquisition Merger or consolidation（兼并） Acquisition of stocks（收购股权） Acquisition of assets（收购资产） Proxy contest（代理权争夺） Going private（私有化） 兼并 Merger（吸收合并） One firm is acquired by another Acquiring firm retains name and acquired firm ceases to exist Consolidation（新设合并） Entirely new firm is created from combination of existing firms 收 购 收购是指一家公司即收购公司（acquiring firm）与另一家公司即目标公司（