Opłacalność transakcji fuzji i przejęć jako bariera konsolidacji kapitałowej
Streszczenie
Most of the experts say, that any decision concerning external development should be
based on valuation both acquiring and acquired enterprises. If the value of both separated
firms is lower than the one after the combination, we can prove the positive effect of acquisition
and find it profitable. But what the value of firm really means? How it can be found? And
after all, is there no doubt the appointed figure shows the real value of an enterprise and its
business? What author tried to do in the article is to show how different the value can be
comprehended. Since the valuation is so ambiguous, profitable of merger or acquisition is very
difficult to establish. This is the limiting aspect of any external development decision.
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