Hi have a have a couple of questions that confuse me:
1) If I am going to acquire a company with negative net debt, should the price I need to pay be tied to the equity value or I buy the company at the Enterprise Value (i.e paying a lower price)? What I mean is, when the Equity Value is larger than the Enterprise Value, does the Equity value repreesents the floor in the M&A transaction?
2) If I am buying a minority stake (let's say 30% of a company which prior to the acquisition was wholly owned by only one shareholder), I am not taking a controlling position. In this case, should the price I pay for it be equal to 30% of the Equity Value or Enterprise Value?
Thanks a lot in advance for your help.