以下是引用chenyu123在2009-3-3 16:54:00的发言：
LOS p: Define, compare, and contrast divestitures, equity carve-outs, spin-offs, split-offs, and liquidation.
Q1. When a parent company sells a subsidiary or a coherent group of assets with a stated reason to provide a near-term infusion of cash, which method for selling the assets is most likely?
A) Spin-off.
B) Equity carve-out.
C) Divestiture.
Q2. The usual distinction between a divestiture and a spin-off is that a divestiture:
A) is a simple distribution of shares in the subsidiary to the parent’s existing shareholders, whereas a spin-off involves an exchange of the parent’s shares for shares of the subsidiary.
B) involves the distribution of shares in the subsidiary to the parent’s existing shareholders, whereas a spin-off is the sale of a subsidiary for cash.
C) is the sale of a subsidiary for cash, whereas a spin-off involves the distribution of shares in the subsidiary to the parent’s existing shareholders.
Q3. Which of the following statements regarding equity carve-outs is least accurate?
A) The parent company usually maintains a controlling interest in the new firm.
B) Shares of the subsidiary are usually issued in a public offering.
C) The management team and operations are separate from the parent company.
Q4. The difference between a spin-off and a split-off is that in a spin-off:
A) shares in the new firm are distributed on a pro-rata basis to existing shareholders, but are sold via a public offering in a split-off.
B) the parent’s existing shareholders must surrender their shares in the parent to obtain shares of the new firm, whereas they receive shares in the new firm on a pro-rata basis in a split-off.
C) the parent’s existing shareholders receive shares in the new firm on a pro-rata basis, whereas they must surrender their shares in the parent to obtain shares of the new firm in a split-off.
发表于 2009-5-24 10:00
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