Find an acquisition where the acquiring company used all stock or all cash to pay for the acquired company. If the company used all cash, assess the company's stock price at the time of the acquisition to historical levels. If the stock is down from its all-time high, discuss whether the stock price played a part in how the acquisition was funded. If the company used stock, do the same assessment and ask why cash was not used. This exercise might require reviewing the acquiring company's cash flow statement.