Displaying risk in mergers: a diagrammatic approach for exchange ratio determination

Alessandra Mainini, Enrico Moretto, Daniela Visetti
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Abstract

This article extends, in a stochastic setting, previous results in the determination of feasible exchange ratios for merging companies. A first outcome is that shareholders of the companies involved in the merging process face both an upper and a lower bounds for acceptable exchange ratios. Secondly, in order for the improved `bargaining region' to be intelligibly displayed, the diagrammatic approach developed by Kulpa is exploited.
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显示兼并中的风险:确定交换比率的图解法
本文在随机环境下扩展了之前在确定合并公司可行交换比率方面的研究成果。第一个结果是,参与合并过程的公司股东同时面临可接受交换比率的上限和下限。其次,为了使改进后的 "讨价还价区域 "清晰地显示出来,利用了库尔帕开发的图解法。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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