1.   Investors often buy Ayala Land based on what its assets would fetch in the open market, minus its liabilities.

2.   Some analysts, however, were skeptical that the assets could fetch that much in a sale.

3.   The Volvo ratio depends on estimates of its excess cash, of course, and on what its on-the-block assets will fetch.

4.   With the U.S. banking industry in the midst of a wave of mergers and takeovers, banking assets are fetching high premiums to their book value.

5.   With the U.S. banking industry in the midst of wave of mergers and takeovers, banking assets are fetching high premiums to their book value.