Company Valuation and Takeover

Robert Alan Hill
Company Valuation and
Takeover
Part II
Download free books at
Download free eBooks at bookboon.com
2
Robert Alan Hill
Company Valuation and Takeover
Part II
Download free eBooks at bookboon.com
3
Company Valuation and Takeover: Part II
© 2012 Robert Alan Hill &
bookboon.com
ISBN 978-87-403-0135-9
Download free eBooks at bookboon.com
Click on the ad to read more
4
Company Valuation and Takeover: Part II Contents
Contents
About the Author 7
Part One: A Guide to Stock Market Investment 8
1 Strategies for Investment (I) 9
Introduction 9
1.1 Dividends as Income 11
1.2 Dividends for Growth 12
1.3 e Price-Earnings Ratio: Past and Future 13
Summary and Conclusions 15
Selected References 16
2 Strategies for Investment (II) 17

Introduction 17
2.1 Corporate Information 17
2.2 “Beating” the Market 20
Summary and Conclusions 23
Selected References 24
www.sylvania.com
We do not reinvent
the wheel we reinvent
light.
Fascinating lighting offers an infinite spectrum of
possibilities: Innovative technologies and new
markets provide both opportunities and challenges.
An environment in which your expertise is in high
demand. Enjoy the supportive working atmosphere
within our global group and benefit from international
career paths. Implement sustainable ideas in close
cooperation with other specialists and contribute to
influencing our future. Come and join us in reinventing
light every day.
Light is OSRAM
Download free eBooks at bookboon.com
Click on the ad to read more
5
Company Valuation and Takeover: Part II Contents
Part Two: Valuation and Takeover 25
3 A Stock Exchange Valuation 26
Introduction 26
3.1 Coming to the Market 26
3.2 Calculations and Assumptions 29
3.3 A Total Market Valuation 30

3.4 An Aggregate Flotation Value 31
3.5 e Number and Denomination of Shares 31
3.6 A Valuation per Share 32
Summary and Conclusions 32
4 Managerial Motivation and Corporate Takeover 34
Introduction 34
4.1 Objective Motivational Factors 34
4.2 Subjective Motivational Factors 37
Summary and Conclusions 39
Selected References 39
5 Acquisition Pricing and Accounting Data 40
Introduction 40
5.1 Takeover Valuation: e Case for Net Assets 41
360°
thinking
.
© Deloitte & Touche LLP and affiliated entities.
Discover the truth at www.deloitte.ca/careers