C20022S 兼并收购概念理论之六：交易融资
1:In M&A deals, debt financing sources usually including:
在并购交易中，债务融资来源通常包括: ABCD
A.Banks银行
B.Insurancecompanies保险公司
C.Financecompanies金融公司
D.Privateequityfirms私募股权公司
2:What does it usually take for a buyer to seek debt financing in a M&A transaction?
并购交易中，买方寻求债务融资，通常需要完成哪些工作？ 添加微信查看全部答案
A.WriteinformationmemorandumtobeprovidedtoLenders准备信息备忘录提供给贷款人
B.Contactcreditratingagency联系信用评级公司
C.Contactprivateequityinvestors联系PE投资者
D.Finda“lead”lendertothedeal为并购交易找到一家“主要”贷款人
3:Prospective lenders to the buyer in an Mergers and Acquisitions deal want to see projections on what basis?
在并购交易中潜在贷方希望从买方那里看到基于什么基础的预测？ 添加微信查看全部答案
A.Combinedcompanies,onataxablecashflowbasis合并后的公司，以应税现金流为基础
B.Combinedcompanies,aftersynergiesandaccountingadjustments合并后的公司，经过协同增效和会计调整
C.Buyer,withsellerfunctioningasoperatingsubsidiary买方，卖方作为运营子公司
D.Combinedcompanies,onanetpresentvaluebasiswithsynergies合并后的公司，以协同效应的净现值为基础
4:A seller has filed a lawsuit against a third party for patent infringement in the amount of $100 million. Various legal experts conclude the chances of success are 40% in 3 years. If the combined buyer/seller has a 12% cost of capital, what is the maximum consideration the buyer should offer the seller at closing (i.e., year 0)?
卖方已就第三方专利侵权提起诉讼，诉讼金额为1亿美元。 各种法律专家总结说，在三年后诉讼成功的机会达到40％。 如果合并后的公司有12％的资本成本，买方应在交易结束时（即第0年）向卖方提供的最高补偿是多少？ 添加微信查看全部答案
A.$14million1400万美元
B.$28million2800万美元
C.$42million4200万美元
D.$71million7100万美元
5:Generally speaking, Mergers and Acquisitions acquirers issuing more than $100 million of new debt need to have the following on a pro forma basis:
一般而言，发行超过1亿美元新债务的并购收购方需要完成以下工作： 添加微信查看全部答案
A.Completedduediligenceontheseller完成对卖方的尽职调查
B.Aninvestmentbankertoassistwiththefinance投资银行家协助融资
C.Acreditratingonthenewdebtfromaratingagency评级机构对新债务的信用评级
D.Anequitysourcetocomplementthedebfinance一个股权融资来源，以补充债务融资
6:Drug Company A wants to acquire Drug Company B. A and B can’t agree on the earnings prospects regarding one of Drug Company B’s drugs under research and development (Pharma XYZ). Drug Company A decides to offer Drug Company B shareholders an extra $100 million payment if Pharma XYZ is a success in three years. That payment is an example of contingent value right.
制药公司A想收购制药公司B。A和B无法就B公司正在研发的药物(Pharma XYZ)的盈利前景达成一致。制药公司A决定如果药物在三年内取得成功将向制药公司B的股东提供额外的1亿美元的报酬。这种支付是或有价值权利（CVR）的一个例子。 对
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