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by danielmarkbruce
1416 days ago
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Acquisitions can make it positive sum. Imagine 2 companies (A and B) raise $1 each from investors in their IPOs (first capital raised). A does well over a decade and has $20 cash on balance sheet with no debt. A acquires B and pays $15 in cash for it. A then dies a slow death over 50 years, never paying a dividend. $2 went in, $15 came out. |
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