Investment Banking : Valuation, Leveraged Buyouts, and Mergers and Acquisitions

by Joshua Rosenbaum; Joshua Pearl; Foreword by: Joseph R. Perella

• ISBN13: 9780470478196
• ISBN10: 0470478195
• Format: eBook
• Copyright: 2009-05-01
• Publisher: Wiley

Summary

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 has been able to take the time to properly codify the lifeblood of the corporate financier's work-namely, valuation. Rosenbaum and Pearl have responded to this need by writing the book that they wish had existed when they were trying to break into Wall Street. Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions is a highly accessible and authoritative book that focuses on the primary valuation methodologies currently used on Wall Street-comparable companies, precedent transactions, DCF, and LBO analysis. These methodologies are used to determine valuation for public and private companies within the context of M&A transactions, LBOs, IPOs, restructurings, and investment decisions. 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. They also provide a comprehensive overview of the fundamentals of LBOs and an organized M&A sale process. In the aftermath of the subprime mortgage crisis and ensuing credit crunch, the world of finance is returning to the fundamentals of valuation and critical due diligence. This involves the use of more realistic assumptions governing approach to risk as well as a wide range of value drivers. While valuation has always involved a great deal of "art" in addition to time-tested "science," the artistry is perpetually evolving in accordance with market developments and conditions. In this sense, this book is particularly topical-in addition to detailing the technical fundamentals behind valuation, the authors infuse practical judgment skills and perspective to help guide the science.

Table of Contents

About the Authors

Foreword

Acknowledgments

Supplemental Materials

Introduction

Structure of the Book

ValueCo Summary Financial Information

Valuation

Comparable Companies Analysis

Precedent Transactions Analysis

Discounted Cash Flow Analysis

Leveraged Buyouts

Leveraged Buyouts

LBO Analysis

Mergers & Acquisitions

M&A Sale Process

Bibliography and Recommended Reading

Index

Table of Contents provided by Publisher. All Rights Reserved.