You are on page 1of 1

Applied Corporate Finance - NUS Business School

Due on March 18th – 9am

Ambuja Cements and Holcim India Merger

Questions:

1) How will the proposed merger affect shareholders of ACL and ACC? Why do you think Holcim is
interested in the merger?

2) Value HIPL. Was the cash payment of 35 billion for a 24 per cent stage in HIPL justified? How
does this cash payment affect the value of ACL’s stock? Is the swap ratio of ACL for 74 shares
justified? What swap ratio would you recommend?

3) How realizable were the proposed synergies? Could this deal have been structured in a different
way to realize the same synergies?

4) What should shareholders do?

5) On a scale of 1 (very easy) to 10 (very difficult), how difficult did you find this case?

Please state and justify your assumptions clearly!


Provide written report should describe what you have done, any assumptions you have made that
are not in the case and your results. This should not exceed about 4-5 pages of A4 (not a hard limit
but guidance), not including tables from your spreadsheet calculations.

You might also like