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Index
Cover
Additional Resources
About the Authors
About the Editors
Foreword
Acknowledgments
Disclaimer
Introduction
Part One Valuation
Chapter 1 Comparable Companies Analysis
Summary of Comparable Companies Analysis Steps
Step I. Select the Universe of Comparable Companies
Step II. Locate the Necessary Financial Information
Step III. Spread Key Statistics, Ratios, and Trading Multiples
Step IV. Benchmark the Comparable Companies
Step V. Determine Valuation
Key Pros and Cons
Illustrative Comparable Companies Analysis for ValueCo
Notes
Chapter 2 Precedent Transactions Analysis
Summary of Precedent Transactions Analysis Steps
Step I. Select the Universe of Comparable Acquisitions
Step II. Locate the Necessary Deal-Related and Financial Information
Step III. Spread Key Statistics, Ratios, and Transaction Multiples
Step IV. Benchmark the Comparable Acquisitions
Step V. Determine Valuation
Key Pros and Cons
Illustrative Precedent Transaction Analysis for ValueCo
Notes
Chapter 3 Discounted Cash Flow Analysis
Summary of Discounted Cash Flow Analysis Steps
Step I. Study the Target and Determine Key Performance Drivers
Step II. Project Free Cash Flow
Step III. Calculate Weighted Average Cost of Capital
Step IV. Determine Terminal Value
Step V. Calculate Present Value and Determine Valuation
Key Pros and Cons
Illustrative Discounted Cash Flow Analysis for ValueCo
Notes
Part Two Leveraged Buyouts
Chapter 4 Leveraged Buyouts
Key Participants
Characteristics of a Strong LBO Candidate
Economics of LBOs
Primary Exit/Monetization Strategies
LBO Financing: Structure
LBO Financing: Primary Sources
LBO Financing: Selected Key Terms
LBO Financing: Determining Financing Structure
Notes
Chapter 5 LBO Analysis
Financing Structure
Valuation
Step I. Locate and Analyze the Necessary Information
Step II. Build the Pre-LBO Model
Step III. Input Transaction Structure
Step IV. Complete the Post-LBO Model
Step V. Perform LBO Analysis
Illustrative LBO Analysis for ValueCo
Notes
Part Three Mergers & Acquisitions
Chapter 6 Sell-Side M&A
Auctions
Organization and Preparation
First Round
Second Round
Negotiations
Closing
Negotiated Sale
Notes
Chapter 7 Buy-Side M&A
Buyer Motivation
Acquisition Strategies
Form of Financing
Deal Structure
Buy-Side Valuation
Merger Consequences Analysis
Illustrative Merger Consequences Analysis for the BuyerCo / ValueCo Transaction
Notes
Part Four Initial Public Offerings
Chapter 8 Initial Public Offerings
Why Do Companies Go Public?
Characteristics of a Strong IPO Candidate
Key Participants
Selected Key Terms
Dual-Track Process
Special Purpose Acquisition Companies (SPACs)
Direct Listings
Post-IPO Equity Offerings
IPO Considerations
Nasdaq Appendix
Notes
Chapter 9 The IPO Process
Organization and Preparation
Due Diligence, Drafting, and Filing
Marketing and Roadshow
Pricing and Allocation
Notes
Afterword
Bibliography and Recommended Reading
Index
Advert
ACCESS PIN
EULA
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