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Gear Inc

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Submitted By luisra
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(1) Es Mercury un objetivo apropiado para AGI, por qué si o por qué no?

Considero que sí es un objetivo apropiado pues se dedica también a la comercialización de artículos de vestir. Sería bueno que se enfocara a los modelos que le son más rentables y que se orientará a la producción de zapatos deportivos y casuales para hombres pues son modelos donde el EBIT ha crecido o tiene una tendencia a crecer.
Sin descuidar el mercado original alto al que se ha venido enfocando, que es la venta de zapatos para Golf.

(2) Revise las proyecciones preparadas por Liedtke. Son apropiadas? como recomienda modificarlas?

Incluir la inflación para obtener el flujo deflatado.
Incluir en sus proyecciones el comportamiento del sector.
Proyectar las cuentas como Capital.
En el estado de resultados agregar Impuestos, reintegrar las depreciaciones y restar los gastos de capital.
Sus costos variables y fijos no están especificados.
Las proyecciones están muy consolidadas, lo que dificulta el análisis considerando que pueden haber cuentas ocultas que afecten el análisis para la toma de decisiones.

Considerando la proyección en el incremento de ventas se debe verificar si con la adquisición efectivamente se alcanza el 9%.

(3) Estime el valor de Mercury utilizando el método de Flujo de Caja Descontado. Esté preparado para defender lo que asumió que haga.

Con una inversión de 131,078.82 millones de dólares que se cálculo es el valor de la empresa en base a sus flujos descontados a una tasa del 6% se tiene una TIR de 28.06%.

(4) Cree que el valor que obtuvo es conservador ó agresivo? Por qué? Considero que el valor obtenido es conservador pues no es muy superior a la inversión realizada.

Se considera que es agresivo pues no se tienen la proyección de todas las cuentas.

(5) Como analiza posibles sinergias u otras fuentes de valor no reflejadas en el caso base asumido por Liedtke?

Aprovechar la reducción de costos al utilizar la mano de obra barata de china.
La diversificación a otros mercados y otros canales de distribución.
Utilizar adecuadamente el comercio electrónico.
Aprovechar y fortalecer los canales de distribución ya establecidos.
Incrementar la cuota de participación de mercado.

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