MERGER AND ACQUISITION CHAPTER 16 EXAMPLE TWO. Forums › ACCA Forums › ACCA AFM Advanced Financial Management Forums › MERGER AND ACQUISITION CHAPTER 16 EXAMPLE TWO. This topic has 0 replies, 1 voice, and was last updated 14 years ago by hmaunda. Viewing 1 post (of 1 total) Author Posts May 3, 2012 at 12:57 pm #52475 hmaundaMember Topics: 1Replies: 1☆ P4 course notes chapter 16 example two how are the cash flows of combined business calculated which discounted by 11% in the answer? I thought we need to add cash flows from both entity plus synergies. Author Posts Viewing 1 post (of 1 total) You must be logged in to reply to this topic. Log In Username: Password: Keep me signed in Log In