Investment Banking Focus Notes [NOOK Book]

Overview

Investment Banking FOCUS NOTES provides a comprehensive, yet streamlined, review of the basic skills and concepts discussed in Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Second Edition. The focus notes are designed for use both as a companion to the book, as well as on a standalone basis. Investment Banking focuses on the primary valuation methodologies currently used on Wall Street—namely, comparable companies analysis, precedent transactions analysis, DCF analysis, and LBO...

See more details below
Investment Banking Focus Notes

Available on NOOK devices and apps  
  • NOOK Devices
  • NOOK HD/HD+ Tablet
  • NOOK
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK Study
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook)
$22.99
BN.com price
(Save 42%)$40.00 List Price
Note: This NOOK Book can be purchased in bulk. Please email us for more information.

Overview

Investment Banking FOCUS NOTES provides a comprehensive, yet streamlined, review of the basic skills and concepts discussed in Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Second Edition. The focus notes are designed for use both as a companion to the book, as well as on a standalone basis. Investment Banking focuses on the primary valuation methodologies currently used on Wall Street—namely, comparable companies analysis, precedent transactions analysis, DCF analysis, and LBO analysis—as well as detailed M&A analysis from both a sell-side and buy-side perspective. Our focus notes seek to help solidify knowledge of these core financial topics as true mastery must be tested, honed, and retested over time. We envision the focus notes being used as a self-help tool for students, job seekers, and existing finance professionals, as well as in formal classroom and training settings.

Read More Show Less

Product Details

  • ISBN-13: 9781118710937
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 6/21/2013
  • Series: Wiley Finance
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 2
  • Pages: 320
  • File size: 3 MB

Meet the Author

Joshua Rosenbaum is a Managing Director at UBS Investment Bank in the Global Industrial Group. He originates, structures, and advises on M&A, corporate finance, and capital markets transactions. Previously, he worked at the International Finance Corporation, the direct investment division of the World Bank. He received his AB from Harvard and his MBA with Baker Scholar honors from Harvard Business School.

Joshua Pearl is an investment analyst at Brahman Capital Corp. Previously, he structured and executed leveraged loan and high yield bond financings, as well as leveraged buyouts and restructurings as a Director at UBS Investment Bank in Leveraged Finance. Prior to UBS, he worked at Moelis & Company and Deutsche Bank. He received his BS in Business from Indiana University's Kelley School of Business.

Read More Show Less

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

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)