Enrique R. Valuation for Mergers, Buyouts and Restructuring presents a comprehensive approach to corporate valuation. It treats in detail the. Arzac, Enrique R. Valuation for Mergers, Buyouts, and Restructuring has 11 ratings and 0 reviews. When should you acquire a target or enter a new business?. In addition to thetheoretical, he provides practical insight into deal structuringand deal dynamics.
Answers to these commonly encountered valuation problems and more are given right here in this complete valuation toolkit for mergers, buyouts, and restructuring. Valuing the Cash Flow to Equity. If you are a seller for this product, would you like to suggest updates through seller support?
Adjusting Multiples for Leverage and Growth. James added it Sep 22, Amazon Rapids Fun stories for kids on the go. Want to Read Currently Reading Read. One person found this helpful.
Additional Features in Price Collars. Mergers, Acquisitions, and Buyouts. Valuing a Going Concern in Continuous Time. Albano Vjerdha is agzac reading it Mar 29, The depth the book goes to in certain parts of the text are very deep, and it might have ben an idea to introduce more material to the book rather than go so deep into certain areas.
The result is a valuable toolkit of valuation procedures and analysis methods. Students see different perspectives on subjects and learn how complex and dynamic the mergers and acquisitions environment is.
The other is its use of current events. The implications of Dodd-Frank and US Supreme Court rulings affecting the Sarbanes-Oxley Act, among other regulatory changes, are developed to enhance teaching and learning experiences. Other improvements to the 6th edition have shortened and simplified chapters, increased the numbers and types of pedagogical supplements, and expanded the international appeal of examples.
With a renewed focus on empirical and quantitative examples, the 6th edition continues to demonstrate how people work together on mergers and acquisitions and why the actions of specific individuals have far-reaching implications.
Presents an integrated approach to the activities involved in mergers, acquisitions, business alliances, and corporate restructurings. All chapters have been revised, updated, and contain new content, and 14 include more extensive changes. Structural revisions make chapters more streamlined, shorter, and less complex. All include discussion questions and answers. As such, their book is an essential resource for understanding complex businesses and capital structures whether you are on the buy-side or sell-side.
Mastery of these essential skills is fundamental for any role in transaction-related finance. We recommend the book for any shareholder and senior executive looking to take a company public, as well as their bankers and lawyers.
While numerous textbooks provide students with the core principles of financial economics, the rich institutional considerations that are essential on Wall Street are not well documented.
This book represents an important step in filling this gap. The book is written from the perspective of practitioners, setting it apart from other texts. The most up-to-date guide on making the right capital restructuring moves The Art of Capital Restructuring provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world.
The Art of Capital Restructuring not only explains the financial aspects of these transactions but also examines legal, regulatory, tax, ethical, social, and behavioral considerations.
In addition to this timely information, coverage also includes discussion of basic concepts, motives, strategies, and techniques as well as their application to increasingly complex, real-world situations.
This book fills a noticeable gap in contemporary financeliterature, which tends to focus on theory rather than practicalapplication. The ability to perform these methodologies is especiallycritical for those students aspiring to gain full-time positions atinvestment banks, private equity firms, or hedge funds. This is thebook Rosenbaum and Pearl wish had existed when we were trying tobreak into Wall Street.
It provides studentswith an invaluable education as well as a much-needed edge forgaining entry to the ultra-competitive world of professionalfinance. Mergers and Acquisitions Basics: All You Need to Know provides an introduction to the fundamental concepts of mergers and acquisitions. This book is written for buyers and sellers of businesses, financial analysts, chief executive officers, chief financial officers, operating managers, investment bankers, and portfolio managers. Others who may have an interest include bank lending officers, venture capitalists, government regulators, human resource managers, entrepreneurs, and board members.
The book may also be used as a companion or supplemental text for undergraduate and graduate students taking courses on mergers and acquisitions, corporate restructuring, business strategy, management, governance, and entrepreneurship.
Describes a broad view of the mergers and acquisition process to illustrate agents' interactions Simplifies without overgeneralizing Bases conclusions on empirical evidence, not experience and opinion Features a recent business case at the end of each chapter.
In the fast changing economic environment of today, companies seek corporate restructuring not just to stay afloat amidst cut-throat competition, but also to increase their competitive edge over others.
Thus, the significance of mergers and acquisitions can never be overemphasized in the corporate world. Mergers, Acquisitions and Corporate Restructuring aims to give its readers a concise yet comprehensive coverage of the subject from all the angles - strategic, legal, accounting, taxation, fund raising and valuation—a treatment which no other Indian book in the market has accomplished so far.
Given its holistic approach in the discussion of various issues, both students and practitioners would find this book of immense practical utility. Master the latest insights, lessons, and best practice techniques for accurately valuing companies for potential mergers, acquisitions, and restructurings. Concise, realistic, and easy to use, Valuation for Mergers and Acquisitions, Second Edition has been fully updated to reflect the field's latest and most useful "rules of thumb," compare every modern approach to valuation, offering practical solutions for today's most complex and important valuation challenges.
Treating valuation as both an art and a science, it covers the entire process, offering up-to-the-minute real-world advice, examples, and case studies. Leading valuation experts Barbara S. Petitt and Kenneth R. Ferris introduce and compare leading techniques including discounted cash flow analysis, earnings multiples analysis, adjusted present value analysis, economic value analysis, and real option analysis.
They fully address related concerns such as the accounting structure of deals, accounting for goodwill, tax considerations, and more.
Throughout, they identify common errors that lead to inaccurate valuation, and show how to avoid them. From start to finish, this guide doesn't just make valuation comprehensible: it provides the tools and insight to make valuation work.
For all financial professionals concerned with valuation, especially those involved in potential mergers, acquisitions, and restructurings; and for corporate finance instructors and students in Executive MBA programs concerned with valuation.
A comprehensive look at the world of leveraged buyouts The private equity industry has grown dramatically over the past twenty years. Such investing requires a strong technical know-how in order to turn private investments into successful enterprises. Engaging and informative, this book skillfully shows how to identify a private company, takes you through the analysis behind bringing such an investment to profitability—and further create high returns for the private equity funds.
It includes an informative leveraged buyout overview, touching on everything from LBO modeling, accounting, and value creation theory to leveraged buyout concepts and mechanics. Provides an in-depth analysis of how to identify a private company, bring such an investment to profitability, and create high returns for the private equity funds Includes an informative LBO model and case study as well as private company valuation Written by Paul Pignataro, founder and CEO of the New York School of Finance If you're looking for the best way to hone your skills in this field, look no further than this book.
Written by the Founder and CEO of the prestigious New YorkSchool of Finance, this book schools you in the fundamental toolsfor accurately assessing the soundness of a stock investment. Builtaround a full-length case study of Wal-Mart, it shows you how toperform an in-depth analysis of that company's financial standing,walking you through all the steps of developing a sophisticatedfinancial model as done by professional Wall Street analysts.
Youwill construct a full scale financial model and valuationstep-by-step as you page through the book. When we ran this analysis in January of , we estimated thestock was undervalued. Since the first run of the analysis, thestock has increased 35 percent. Re-evaluating Wal-Mart9months later, we will step through the techniques utilized by WallStreet analysts to build models on and properly value businessentities.
Step-by-step financial modeling - taught using downloadableWall Street models, you will construct the model step by step asyou page through the book. Hot keys and explicit Excel instructions aid even the noviceexcel modeler. Model built complete with Income Statement, Cash FlowStatement, Balance Sheet, Balance Sheet Balancing Techniques,Depreciation Schedule complete with accelerating depreciation anddeferring taxes , working capital schedule, debt schedule, handlingcircular references, and automatic debt pay downs.
Illustrative concepts including detailing model flows help aidin conceptual understanding. Concepts are reiterated and honed, perfect for a novice yetdetailed enough for a professional.
Model built direct from Wal-Mart public filings, searchingthrough notes, performing research, and illustrating techniques toformulate projections. Includes in-depth coverage of valuation techniques commonlyused by Wall Street professionals. Precedent transactions analysis - detailing how to extractproper metrics from relevant proxy statements Discounted cash flow analysis - simplifying and illustratinghow a DCF is utilized, how unlevered free cash flow is derived, andthe meaning of weighted average cost of capital WACC Step-by-step we will come up with a valuation on Wal-Mart Chapter end questions, practice models, additional case studiesand common interview questions found in the companion website help solidify the techniques honed in the book; ideal foruniversities or business students looking to break into theinvestment banking field.
The survival and prosperity of any corporation over the long term depend on the company's ability to grow and develop through a process of investment, restructuring, and redeployment. This book seeks to provide an effective and comprehensive framework, predominantly embedded in corporate finance, for achieving greater success. This insightfulguide focuses on one of the most often debated and key issues inmergers and acquisitions-why some deals fail miserably and whyothers prosper.
Patrick A. He is activelyengaged in the practice of business valuations for mergers andacquisitions, as well as other related applications. Corporate finance is the area of finance that studies the determinants of firms' values, including capital structure, financing, and investment decisions.
Although there are several excellent texts in corporate finance, this is the first to focus on the theoretical foundations of the subject in a consistent and integrated way at the Ph.
In addition to a textbook for advanced graduate students, it can also serve as a general reference to researchers and sophisticated practitioners. The material presented is carefully selected with an eye to what is essential to understanding the underlying theory, ensuring that this text will remain useful for years to come. The book is divided into three parts.
The first section presents the basic principles of valuation based on the absence of arbitrage, including a discussion of the determinants of the optimal capital structure based on the seminal results of Modigliani and Miller.
The second section discusses the implications of agency problems and information asymmetries to capital structure, giving particular attention to payout policy and to debt contract design. The concluding portion presents different ways of restructuring capital, including going public, going private using stock repurchases or leveraged buyouts, and mergers and acquisitions.
Each chapter includes exercises that vary in difficulty, with suggested solutions provided in an appendix. This book will assuredly be the standard doctoral- and professional-level explication of corporate finance theory and its appropriate applications. Distressed mergers and acquisitions used to be the domain of a handful of specialists, who generated handsome profits by unlocking value in troubled companies.
Now, you can learn the secrets for participating in these deals with knowledge and confidence. Added to Your Shopping Cart. Learn more about Amazon Giveaway. Instead, the books delves straight into valuation exercises that are at times even more difficult than what I have encountered in the profession.
Offering a unique combination of practical valuation techniques with the most current thinking, this vapuation provides readers with an up-to-date synthesis of valuation theory as it applies to mergers, buyouts and restructuring. Sources of Disagreement in Deal Making. Answers to these commonly encountered valuation problems and more are given right here in this complete valuation toolkit for mergers, buyouts, and restructuring. English Choose a language for shopping. Alicia Terzy marked it as to-read Mar 22, Ruikun Zhao added it Jan 22, He clearly explains the fundamental concepts of assesing economic value, va,uation links them to practical applications that finance professionals in a variety of investment fields would encounter on a day-to-day basis.
Entry and Exit Options. Examples of Tax Consequences. Request an Evaluation Copy for this title. By inc orporating over 30years of research, teaching, and practical experience, ProfessorArzac has created a text that us not only timely, but timeless arzwc usefulness to anyone interested in learning the applications offinancial theory for the best and most useful allocation of thescarcest economic resource in the world—capital.
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