1．辨明收购对象 1
1.Identifying the Acquisition Target 1
BUYING A COMPANY 1
收购一家公司 1
目标轮廓 2
Target Profile Sheet 2
List of Sources for Database Search 4
可用于数据库查询的资料来源清单 4
Grading Criteria for Short-list 6
分级标准简表 6
Graded Company 8
Company Contact Information Sheet 8
分了级的公司 8
公司合同资料 8
Company Data Sheet 9
公司数据 9
候选企业简表 11
Short-list of Candidates 11
Stock Price Performance Chart-3 Years 11
股价变动图：3年 11
股价变动图：1年 13
Stock Price Performance Chart-1 Years 13
2.Appointement of a Financial Advisor 15
2．标购的性质 15
List of Services Provided by a Financial Advisor 16
金融顾问服务项目清单 16
Solicitation Materials from Financial Advisor 18
可向金融顾问要求的资料 18
Letter Soliciting a Proposal from Financial Advisor 19
请求金融顾问提供建议的申请书 19
金融顾问提供的公共信息手册中的内容清单 19
List of Contents for Public Information book 19
Checklist for Choosing a Financial Advisor 21
选择金融顾问的注意事项 21
Engagement Letter-Specific Acquisition 22
保证书：特别收购 22
保证书：普通收购 25
Engagement Letter-General Acquisition 25
Fee Scales 28
收费价目表 28
3.Valuation of the Acquisition Target 29
3．收购目标的估价 29
预备资料 34
Preliminary Material 34
Table of Contents for Valuation Book 34
Summary of Publicly Available Information Sources 34
可公开得到的信息资源简况 34
价值手册 34
索取可公开得到的信息资源的申请书 36
Letter Requesting Publicly Available Information 36
历史财务信息 37
Historical Financial Information 37
财务计划 40
Financial Projections 40
对协同及反协同的分析 46
Analysis Of Synergies and Reverse Synergies 46
贴现现金流的价值 51
Discounted Cash Flow Valuation 51
贴现率的假设 52
贴现现金流分析 52
Discounted Cash Flow Analysis 52
Assumptions for Discount Rate 52
M A Software-Case Study 53
M A软件：案例研究 53
4.Structuring the Transaction 83
4．构思一项交易 83
预备性财务分析 84
收购公司的财务状况 84
Financial Statements of Buying Company 84
Preliminary Financial Analysis 84
Operating Forecast for Buying Company 87
收购公司的经营预测 87
秘密协议 87
Financial Statements of Target Company 92
目标公司的财务状况 92
目标公司的经营预测 95
Operating Forecast for Target Company 95
被兼并公司形式上的平衡表 100
Pro Forma Balance Sheet for Merged Companies 100
会计处理：“购买”与“合并” 105
会计及税务处理 105
Accounting Treatment:“Purchase”Versus“Pooling” 105
Accounting and Tax Treatment 105
“Taxable”and “Tax-Free” Transactions 106
“应税”与“免税”交易 106
税务设计 108
Checklist of Tax Considerations 108
Cash or Stock? 109
Checklist of Advantages and Disadvantages 109
现金还是股票？ 109
优势与劣势 109
Cash Transaction: Pro Forma Forecast Summary 110
现金交易：形式上的简要预测 110
股票交易：形式上的简要预测 112
Stock Transaction: Pro Forma Forecast Summary 112
Leverage 114
Checklist of Advantages and Disadvantages 114
优势与劣势 114
杠杆 114