Mergers and Acquisitions (M&A)

  1. Business Valuation
    1. Core Principles of Valuation
      1. Intrinsic Value vs. Market Value
        1. Control Premium
          1. Synergy Value
            1. Liquidity Discount
              1. Minority Interest Discount
              2. Primary Valuation Methodologies
                1. Discounted Cash Flow Analysis
                  1. Forecasting Free Cash Flows
                    1. Revenue Projections
                      1. Expense Forecasting
                        1. Capital Expenditure Planning
                          1. Working Capital Requirements
                          2. Determining the Discount Rate
                            1. Cost of Equity
                              1. Cost of Debt
                                1. Capital Structure Weights
                                  1. Risk Adjustments
                                  2. Calculating Terminal Value
                                    1. Perpetuity Growth Method
                                      1. Exit Multiple Method
                                      2. Sensitivity Analysis
                                        1. Key Assumptions Testing
                                          1. Scenario Analysis
                                            1. Monte Carlo Simulation
                                          2. Comparable Company Analysis
                                            1. Selecting a Peer Group
                                              1. Industry Classification
                                                1. Size and Growth Profile
                                                  1. Geographic Considerations
                                                  2. Identifying and Calculating Multiples
                                                    1. Enterprise Value Multiples
                                                      1. Equity Value Multiples
                                                        1. Operational Metrics
                                                        2. Applying Multiples to Target Company
                                                          1. Adjusting for Differences
                                                            1. Interpreting Results
                                                          2. Precedent Transaction Analysis
                                                            1. Selecting Comparable Transactions
                                                              1. Time Frame
                                                                1. Deal Size and Type
                                                                  1. Geographic Scope
                                                                  2. Analyzing Transaction Multiples
                                                                    1. Premiums Paid
                                                                      1. Deal Structure Considerations
                                                                      2. Adjusting for Control Premiums
                                                                        1. Market Conditions
                                                                          1. Strategic vs. Financial Buyers
                                                                      3. Other Valuation Approaches
                                                                        1. Leveraged Buyout Analysis
                                                                          1. LBO Model Structure
                                                                            1. Key Assumptions
                                                                              1. Exit Scenarios
                                                                                1. Returns Analysis
                                                                                2. Asset-Based Valuation
                                                                                  1. Book Value of Assets
                                                                                    1. Adjusted Net Asset Value
                                                                                      1. Liquidation Value
                                                                                      2. Sum-of-the-Parts Analysis
                                                                                        1. Valuing Business Segments Separately
                                                                                          1. Aggregating Segment Values
                                                                                            1. Conglomerate Discount

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                                                                                        4. The M&A Process Lifecycle

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                                                                                        6. Deal Structuring and Financing