请求翻译一段话~论文中用

显示全部楼层 · 2008-7-20 20:26:34

美国在线和时代华纳的合并是采取股换的方式:美国在线的股东采取1: 1的比例换购新公司的股票;时代华纳的股东则采取1: 1. 5的比例换购。经过这一过程,最终美国在线掌握了新公司55%的股权，完成了控股。在并购支付方式上，可以说时代华纳吃了不小的亏。企业的支付方式可分为:现金支付、股票支付和综合证券支付。三种支付方式各有利弊，但在这次的合并中，显然股票支付对时代华纳公司而言是一个不明智的选择。股票支付虽不必动用现金，不会对并购方企业的财务状况产生很大的影响。但被并购企业的所有者权益转移到了并购方，并且新增发的股票会对股权结构造成影响，从而导致股东权益淡化，甚至使原股东丧失对企业的控制权。

千问 · 2008-7-20 20:26:34

America Online and Time Warner's shares for the merger is to take the way: America Online's shareholders to take 1: 1 ratio of the redemption of the new company's stock; Time Warner's shareholders will take 1: 1.5 proportion of redemption. Through this process, America Online finally mastered the new company 55 percent stake in

千问 · 2008-7-20 20:26:34

America Online and Time Warner's shares for the merger is to take the way: America Online's shareholders to take 1: 1 ratio of the redemption of the new company's stock; Time Warne

千问 · 2008-7-20 20:26:34

The US online and the time Warner's merge is adopts the way which the stock trades: The American online shareholders adopt 1: 1 proportion purchases by barter the new company's sto

千问 · 2008-7-20 20:26:34

The United States is on-line with the merger of the Time Warner is adopt a way for change:on-line shareholder in the United States adopt 1: 1 of the comparison change a stock of bu