Download or read book Leveraged Buyouts written by David Pilger and published by Harriman House Limited. This book was released on 2012-06-15 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reveals the things you need to know to analyse and create custom leveraged buyout analysis, as practised in firms such as Goldman Sachs, Morgan Stanley and Barclays. This title provides step-by-step instructions on how to understand financial statements and prepare analysis.

Download or read book Leveraged Management Buyouts written by Yakov Amihud and published by Beard Books. This book was released on 2002 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at a conference held at the Leonard N. Stern School of Business, New York University, on May 20, 1988, and sponsored by the Salomon Brothers Center for the Study of Financial Institutions. The 1989 edition of this proceedings volume was published by Dow-Jones-Irwin. Academics, legis

Download or read book Modeling Leveraged Buyouts Simplified written by Senith Mathews and published by . This book was released on 2019-12-18 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modeling Leveraged Buyouts - Simplified is for MBA, CFA or undergraduate finance students interested in understanding and modeling leveraged buyouts ('LBO'). This book is also helpful for financial executives and others interested in understanding and modeling LBOs. It is a wonderful resource for students or professionals interviewing for jobs in the private equity, investment banking or hedge fund industry because it will teach you how to build a basic LBO model in 1-2 hours.This book assumes that the reader is familiar with basic finance and accounting concepts. For example, the reader is expected to know the structure of an income statement, the meaning of the term working capital, internal rate of return (IRR) and multiples. The reader is NOT expected to be an expert in Microsoft Excel but has to be reasonably familiar with Microsoft Excel. No two LBO transactions are exactly alike. Each LBO transaction will have unique features, characteristics and structure. This book will teach you how to build a simple LBO model. Once you can confidently build a simple LBO model, you can add many bells and whistles to reflect the numerous specifics of the LBO transaction you are considering or modeling.Modeling Leveraged Buyouts - Simplified is based on Senith Mathews' experience tutoring students and executives in financial modeling over 10 years and building models as a management consultant with Arthur Andersen and Mercer Management Consulting (now Oliver Wyman). Modeling Leveraged Buyouts - Simplified narrowly focusses on modeling leveraged buy outs given the surge in interest in LBOs. The first part of Modeling Leveraged Buyouts - Simplified (chapters 1-5) walks you through building and analyzing an LBO model step by step. The first chapter of the book lays the foundations of the LBO model outlining the basic principles, components and structure of an LBO model. The second chapter lists and describes the ingredients of an LBO model. This chapter covers the background and assumptions required to build an LBO model. The third chapter of the book shows you how to build the heart of an LBO model: the cash flow projections. It is the cash flow projections that drive investment returns and performance. The fourth chapter of the book teaches you how to develop the output of an LBO model. Here we look at how to compute the key metrics in an LBO transaction. You will see how a project's returns differs from the private equity investor's returns and how a project may give poor returns but the private equity investor generates huge returns from the same LBO transaction. The fifth chapter of this book teaches you how to analyze the LBO model you have just built. We show you why and how sensitivity analysis is done. We also study how an LBO will create value and teach you how to quantify the value generated by the different drivers of value creation in chapter 5.

Download or read book The Complete Guide to a Successful Leveraged Buyout written by Allen Michel and published by McGraw-Hill Professional Publishing. This book was released on 1988 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Art of Capital Restructuring written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-07-28 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 dynamic nature of M&As requires an evolving understanding of the field, and this book considers several different forms of physical restructuring such as divestitures as well as financial restructuring, which refers to alterations in the capital structure of the firm. 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. Emphasizes best practices that lead to M&A success Contains important and relevant research studies based on recent developments in the field Comprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideas Skillfully blending theory with practice, this book will put you in a better position to make the right decisions with regard to capital restructuring in today's dynamic business world.

Download or read book Comparative Company Law written by Andreas Cahn and published by Cambridge University Press. This book was released on 2018-10-04 with total page 1095 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents in-depth, comparative analyses of German, UK and US company laws illustrated by leading cases, with German cases in English translation.

Download or read book Financial Analysis of Mergers and Acquisitions written by Eli Amir and published by Springer Nature. This book was released on 2021-02-02 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions (M&As) reshape the corporate landscape helping companies expand market share and gain a strategic advantage. The ability to understand and analyze these transactions is a crucial skill. The first step in acquiring that skill is being able to gather and analyse information on M&As from public sources, such as financial statements. This textbook helps its readers better analyze M&A transactions using information provided in financial statements. Covering accounting and reporting of consolidations, goodwill, non-controlling interests, step acquisitions, spin-offs, equity carve-outs, joint ventures, leveraged buyouts, disposal of subsidiaries, special purpose entities, and taxes, it focuses on the link between underlying economic events and the information in financial statements and how this link affects the assessment of corporate performance. The first part of the book provides description of the accounting rules governing M&A transactions, while the second part includes cases of M&A transactions. Each case focuses on a different element of an M&A transaction, and it is followed by a detailed solution with a complete analysis. Unlike other books in this field, this textbook focuses exclusively on accounting and financial analysis for graduate and upper undergraduate level courses in financial analysis, corporate finance, and financial accounting.

Download or read book The Deal Decade Handbook written by Margaret M. Blair and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this companion handbook to The Deal Decade: What Takeovers and Leveraged Buyouts mean for Corporate Governance, Margaret Blair and Girish Uppal present summary statistics and details on the corporate restructuring movement of the 1980s. The authors summarize data from private buyouts, junk bond issuances, and aggregate changes in corporate debt. They also report on the changing patterns of corporate ownership, shareholder activism, and changes in the law affecting takeovers. Finally, they put the 1980s into historical context by presenting data tracking merger and acquisition activity since 1955.

Download or read book Investment Banking written by Joshua Rosenbaum and published by John Wiley & Sons. This book was released on 2020-03-20 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely update to the global bestselling book on investment banking and valuation – this new edition reflects valuable contributions from Nasdaq and the global law firm Latham & Watkins LLP plus access to the online valuation models and course. In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one was able to take the time to properly codify its lifeblood--namely, valuation and dealmaking. Rosenbaum and Pearl originally responded to this need in 2009 by writing the first edition of the book that they wish had existed when they were trying to break into Wall Street. Investment Banking: Valuation, LBOs, M&A, and IPOs, 3rd Edition is a highly accessible and authoritative book written by investment bankers that explains how to perform the valuation work and financial analysis at the core of Wall Street – comparable companies, precedent transactions, DCF, LBO, M&A analysis...and now IPO analytics and valuation. Using a step-by-step, how-to approach for each methodology, the authors build a chronological knowledge base and define key terms, financial concepts, and processes throughout the book. The genesis for the original book stemmed from the authors' personal experiences as students interviewing for investment banking positions. As they both independently went through the rigorous process, they realized that their classroom experiences were a step removed from how valuation and financial analysis were performed in real-world situations. Consequently, they created this book to provide a leg up to those individuals seeking or beginning careers on Wall Street – from students at undergraduate universities and graduate schools to "career changers" looking to break into finance. Now, over 10 years after the release of the first edition, the book is more relevant and topical than ever. It is used in over 200 universities globally and has become a go-to resource for investment banks, private equity, investment firms, and corporations undertaking M&A transactions, LBOs, IPOs, restructurings, and investment decisions. While the fundamentals haven't changed, the environment must adapt to changing market developments and conditions. As a result, Rosenbaum and Pearl have updated their widely adopted book accordingly, turning the latest edition of Investment Banking: Valuation, LBOs, M&A, and IPOs into a unique and comprehensive training package, which includes: Two new chapters covering IPOs plus insightful contributions from Nasdaq, the leading U.S. exchange and technology provider for IPOs and new listings, and global law firm Latham & Watkins LLP Access to six downloadable valuation model templates, including Comparable Companies Analysis, Precedent Transactions Analysis, Discounted Cash Flow Analysis, Leveraged Buyout Analysis, M&A Analysis, and IPO Valuation Six-month access to online Wiley Investment Banking Valuation Course featuring bite-sized lessons, over five hours of video lectures, 100+ practice questions, and other investment banking study tools Launch your career on Wall Street and hone your financial expertise with Rosenbaum and Pearl’s real-world knowledge and forward-looking guidance in the latest edition of Investment Banking: Valuation, LBOs, M&A, and IPOs.

Download or read book Corporate Restructuring written by Bjørn Espen Eckbo and published by Now Pub. This book was released on 2013-07 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: We survey the empirical literature on corporate financial restructuring, including breakup transactions (divestitures, spinoffs, equity carveouts, tracking stocks), leveraged recapitalizations, and leveraged buyouts (LBOs). For each transaction type, we survey techniques, deal financing, transaction volume, valuation effects and potential sources of restructuring gains. Many breakup transactions appear to be a response to excessive conglomeration and attempt to reverse a potentially costly diversification discount. The empirical evidence shows that the typical restructuring creates substantial value for shareholders. The value-drivers include elimination of costly cross-subsidizations characterizing internal capital markets, reduction in financing costs for subsidiaries through asset securitization and increased divisional transparency, improved (and more focused) investment programs, reduction in agency costs of free cash flow, implementation of executive compensation schemes with greater pay-performance sensitivity, and increased monitoring by lenders and LBO sponsors. Buyouts after the 1990s on average create value similar to LBOs of the 1980s. Recent developments include consortiums of private equity funds (club deals), exits through secondary buyouts (sale to another LBO fund), and evidence of persistence in fund returns. LBO deal financing has evolved toward lower leverage ratios. In Europe, recent deals are financed with less leveraged loans and mezzanine debt and more high-yield debt than before. Future research challenges include integrating analyses across transaction types and financing mixes, and producing unbiased estimates of the expected return from buyout investments in the presence of limited data on portfolio companies that do not return to public status.

Download or read book Barbarians at the Gate written by Bryan Burrough and published by Harper Collins. This book was released on 2009-10-13 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 New York Times bestseller and arguably the best business narrative ever written, Barbarians at the Gate is the classic account of the fall of RJR Nabisco at the hands of a buyout from investment firm KKR. A book that stormed both the bestseller list and the public imagination, a book that created a genre of its own, and a book that gets at the heart of Wall Street and the '80s culture it helped define, Barbarians at the Gate is a modern classic—a masterpiece of investigatory journalism and a rollicking book of corporate derring-do and financial swordsmanship. The fight to control RJR Nabisco during October and November of 1988 was more than just the largest takeover in Wall Street history. Marked by brazen displays of ego not seen in American business for decades, it became the high point of a new gilded age and its repercussions are still being felt. The tale remains the ultimate story of greed and glory—a story and a cast of characters that determined the course of global business and redefined how deals would be done and fortunes made in the decades to come. Barbarians at the Gate is the gripping account of these two frenzied months, of deal makers and publicity flaks, of an old-line industrial powerhouse (home of such familiar products a Oreos and Camels) that became the victim of the ruthless and rapacious style of finance in the 1980s. As reporters for The Wall Street Journal, Burrough and Helyar had extensive access to all the characters in this drama. They take the reader behind the scenes at strategy meetings and society dinners, into boardrooms and bedrooms, providing an unprecedentedly detailed look at how financial operations at the highest levels are conducted but also a richly textured social history of wealth at the twilight of the Reagan era. At the center of the huge power struggle is RJR Nabisco's president, the high-living Ross Johnson. It's his secret plan to buy out the company that sets the frenzy in motion, attracting the country's leading takeover players: Henry Kravis, the legendary leveraged-buyout king of investment firm KKR, whose entry into the fray sets off an acquisitive commotion; Peter Cohen, CEO of Shearson Lehman Hutton and Johnson's partner, who needs a victory to propel his company to an unchallenged leadership in the lucrative mergers and acquisitions field; the fiercely independent Ted Forstmann, motivated as much by honor as by his rage at the corruption he sees taking over the business he cherishes; Jim Maher and his ragtag team, struggling to regain credibility for the decimated ranks at First Boston; and an army of desperate bankers, lawyers, and accountants, all drawn inexorably to the greatest prize of their careers—and one of the greatest prizes in the history of American business. Written with the bravado of a novel and researched with the diligence of a sweeping cultural history, Barbarians at the Gate is present at the front line of every battle of the campaign. Here is the unforgettable story of that takeover in all its brutality. In a new afterword specially commissioned for the story's 20th anniversary, Burrough and Helyar return to visit the heroes and villains of this epic story, tracing the fallout of the deal, charting the subsequent success and failure of those involved, and addressing the incredible impact this story—and the book itself—made on the world.

Download or read book Lessons from Private Equity Any Company Can Use written by Orit Gadiesh and published by Harvard Business Press. This book was released on 2008-02-07 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms are snapping up brand-name companies and assembling portfolios that make them immense global conglomerates. They're often able to maximize investor value far more successfully than traditional public companies. How do PE firms become such powerhouses? Learn how, in Lessons from Private Equity Any Company Can Use. Bain chairman Orit Gadiesh and partner Hugh MacArthur use the concise, actionable format of a memo to lay out the five disciplines that PE firms use to attain their edge: · Invest with a thesis using a specific, appropriate 3-5-year goal · Create a blueprint for change--a road map for initiatives that will generate the most value for your company within that time frame · Measure only what matters--such as cash, key market intelligence, and critical operating data · Hire, motivate, and retain hungry managers--people who think like owners · Make equity sweat--by making cash scarce, and forcing managers to redeploy underperforming capital in productive directions This is the PE formulate for unleashing a company's true potential.

Download or read book The Handbook of Financing Growth written by Kenneth H. Marks and published by John Wiley & Sons. This book was released on 2005-05-31 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the strategies, capital structure, and fund raising techniques for emerging growth and middle-market companies. Here is a comprehensive and practical guide to understanding and applying the basics of corporate finance to emerging growth and middle-market companies. Using empirical data and actual company cases to illustrate capital structures and financing approaches, the book provides a detailed discussion of the many funding instruments, from traditional bank loans and asset-based financing to different types of private equity and other creative solutions; the types of funding sources and their expected rates of returns; and typical deal terms.

Download or read book Negotiated Acquisitions of Companies Subsidiaries and Divisions written by Lou R. Kling and published by Law Journal Press. This book was released on 2023-12-28 with total page 1528 pages. Available in PDF, EPUB and Kindle. Book excerpt: This law book includes advice on corporate business structuring deals, negotiating agreements, identifying issues and solving the real problems that are likely to arise during the acquisition.

Download or read book Case Studies For Corporate Finance From A Anheuser To Z Zyps In 2 Volumes written by Harold Bierman, Jr and published by World Scientific Publishing Company. This book was released on 2017-03-16 with total page 920 pages. Available in PDF, EPUB and Kindle. Book excerpt: Case Studies for Corporate Finance: From A (Anheuser) to Z (Zyps) (In 2 Volumes) provides a distinctive collection of 51 real business cases dealing with corporate finance issues over the period of 1985-2014. Written by Harold Bierman Jr, world-renowned author in the field of corporate finance, the book spans over different areas of finance which range from capital structures to leveraged buy-outs to restructuring. While the primary focus of the case studies is the economy of the United States, other parts of the world are also represented. Notable to this comprehensive case studies book are questions to which unique solutions are offered in Volume 2, all of which aim to provide the reader with simulated experience of real business situations involving corporate financial decision-making. Case studies covered include that of Time Warner (1989-1991), The Walt Disney Company (1995), Exxon-Mobil (1998), Mitsubishi's Zero Coupon Convertible Bond (2000), and Apple (2014).

Download or read book Investment Banks Hedge Funds and Private Equity written by David P. Stowell and published by Academic Press. This book was released on 2012-09-01 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamic environment of investment banks, hedge funds, and private equity firms comes to life in David Stowell's introduction to the ways they challenge and sustain each other. Capturing their reshaped business plans in the wake of the 2007-2009 global meltdown, his book reveals their key functions, compensation systems, unique roles in wealth creation and risk management, and epic battles for investor funds and corporate influence. Its combination of perspectives—drawn from his industry and academic backgrounds—delivers insights that illuminate the post-2009 reinvention and acclimation processes. Through a broad view of the ways these financial institutions affect corporations, governments, and individuals, Professor Stowell shows us how and why they will continue to project their power and influence. - Emphasizes the needs for capital, sources of capital, and the process of getting capital to those who need it - Integrates into the chapters ten cases about recent transactions, along with case notes and questions - Accompanies cases with spreadsheets for readers to create their own analytical frameworks and consider choices and opportunities

Download or read book Mergers Acquisitions and Other Restructuring Activities written by Donald DePamphilis and published by Academic Press. This book was released on 2011-08-22 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two strengths distinguish this textbook from others. One is its presentation of subjects in the contexts wherein they occur. The other is its use of current events. Other improvements have shortened and simplified chapters, increased the numbers and types of pedagogical supplements, and expanded the international appeal of examples.