Overview

Investment Banking FOCUS NOTES provides acomprehensive, yet streamlined, review of the basic skills andconcepts discussed in Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, SecondEdition. The focus notes are designed for use both as acompanion to the book, as well as on a standalone basis.Investment Banking focuses on the primary valuationmethodologies currently used on Wall Street--namely, comparable companies analysis, precedent transactions analysis, DCFanalysis, and LBO analysis--as well as detailed M&Aanalysis from both a sell-side and buy-side perspective. Our focusnotes seek to help solidify knowledge of these core financialtopics as true mastery must be tested, honed, and retested overtime.

Full Product Details

Author:   Joshua Rosenbaum ,  Joshua Pearl
Publisher:   John Wiley & Sons Inc
Imprint:   John Wiley & Sons Inc
Edition:   2nd Revised edition
ISBN:  

9781118710937

ISBN 10:   1118710932
Pages:   320
Publication Date:   21 June 2013
Audience:   General/trade ,  General
Format:   Electronic book text
Publisher's Status:   Active
Availability:   Available To Order  
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

Table of Contents

About the Authors vii Introduction viii Chapter 1: Comparable Companies Analysis 1 Overview of Comparable Companies Analysis 3 Step I: Select the Universe of Comparable Companies 4 Step II: Locate the Necessary Financial Information 7 Step III: Spread Key Statistics, Ratios, and Trading Multiples 9 Step IV: Benchmark the Comparable Companies 27 Step V: Determine Valuation 33 Key Pros and Cons 38 Chapter 2: Precedent Transactions Analysis 39 Overview of Precedent Transactions Analysis 41 Step I. Select the Universe of Comparable Acquisitions 42 Step II. Locate the Necessary Deal-Related and Financial Information 46 Step III. Spread Key Statistics, Ratios, and Transaction Multiples 49 Step IV. Benchmark the Comparable Acquisitions 64 Step V. Determine Valuation 66 Key Pros and Cons 67 Chapter 3: Discounted Cash Flow Analysis 69 Overview of Discounted Cash Flow Analysis 71 Step I. Study the Target and Determine Key Performance Drivers 73 Step II. Project Free Cash Flow 75 Step III. Calculate Weighted Average Cost of Capital 91 Step IV. Determine Terminal Value 106 Step V. Calculate Present Value and Determine Valuation 112 Key Pros and Cons 118 Chapter 4: Leveraged Buyouts 119 Overview of Leveraged Buyouts 121 Key Participants 122 Characteristics of a Strong LBO Candidate 127 Economics of LBOs 132 Organization and Preparation 209 First Round 218 Second Round 229 Negotiations 236 Closing 241 Negotiated Sale 246 Chapter 7: Buy-Side M&A 247 Overview of Buy-Side M&A 248 Buyer Motivation 250 Acquisition Strategies 254 Form of Financing 259 Deal Structure 264 Buy-Side Valuation 273 Merger Consequences Analysis 278 Index 295

Reviews

Author Information

Joshua Rosenbaum is a Managing Director at UBS InvestmentBank in the Global Industrial Group. He originates, structures, andadvises on M&A, corporate finance, and capital marketstransactions. Previously, he worked at the International FinanceCorporation, the direct investment division of the World Bank. Hereceived his AB from Harvard and his MBA with Baker Scholar honorsfrom Harvard Business School. Joshua Pearl is an investment analyst at Brahman CapitalCorp. Previously, he structured and executed leveraged loan andhigh yield bond financings, as well as leveraged buyouts andrestructurings as a Director at UBS Investment Bank in LeveragedFinance. Prior to UBS, he worked at Moelis & Company andDeutsche Bank. He received his BS in Business from IndianaUniversity's Kelley School of Business.

Tab Content 6

Author Website:  

Customer Reviews

Recent Reviews

No review item found!

Add your own review!

Countries Available

All regions