The ideal companion to Investment Banking

Investment Banking WORKBOOK is the ideal complement to Investment Banking: Valuation, LBOs, M&A, and IPOs, Third Edition--enabling you to truly master and refine the core skills at the center of the world of finance. This comprehensive study guide provides an invaluable opportunity to explore your understanding of the strategies and techniques covered in the main text before putting them to work in real-world situations.

The WORKBOOK, which parallels the main book chapter by chapter, contains over 500 problem-solving exercises and multiple-choice questions.

Topics reviewed include:

• Valuation and its various forms of analysis, including comparable companies, precedent transactions, and DCF analysis
  -Leveraged buyouts--from the fundamentals of LBO economics and structure to detailed modeling and valuation
  -M&A sell-side tools and techniques, including an overview of an organized M&A sale process
  -M&A buy-side strategy and analysis, including a comprehensive merger consequences analysis that includes accretion/dilution and balance sheet effects
  -IPOs, including valuation, structure, and process, as well as SPACs and direct listings

  The lessons found within will help you successfully navigate the dynamic world of investment banking, LBOs, M&A, IPOs, and professional investing. Investment Banking WORKBOOK will enable you to take your learning to the next level in terms of understanding and applying the critical financial tools necessary to be an effective finance professional.

  Autorentext

  Joshua Rosenbaum is a Managing Director and Head of the Industrials & Diversified Services Group at RBC Capital Markets, where he also serves on the Management Committee for the U.S. Investment Bank. He originates, structures, and advises on M&A, corporate finance, and capital markets transactions. Previously, he worked at UBS Investment Bank and 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. He is also the co-author of Investment Banking: Valuation, LBOs, M&A, and IPOs and The Little Book of Investing Like the Pros.

  Joshua Pearl is the Founder and Chief Investment Officer of Hickory Lane Capital Management, a long/short equity asset manager. He focuses on equity investments and special situations utilizing a fundamentals-based approach. From 2011-2020, he served as a Managing Director and Partner at Brahman Capital. Previously, he structured high yield financings, leveraged buyouts, and restructurings as a Director at UBS Investment Bank. Prior to UBS, he was an investment banker at Moelis & Company and Deutsche Bank. He received his BS in Business from Indiana University's Kelley School of Business. He is also the co-author of Investment Banking: Valuation, LBOs, M&A, and IPOs and The Little Book of Investing Like the Pros. JOSEPH GASPARRO is a Vice President in the Industrials & Diversified Services Group at RBC Capital Markets, where he advises on and executes M&A, corporate finance, and capital markets transactions. Previously, he worked in the Investment Banking Division and Global Markets Division of Credit Suisse. Prior to Credit Suisse, he worked at BofA Securities and UBS Investment Bank. He received his BA from Gettysburg College and his MBA from Rutgers Business School. He is a two-time recipient of the President's Volunteer Service Award, bestowed by the President of the United States. He is also an editor of Investment Banking: Valuation, LBOs, M&A, and IPOs and The Little Book of Investing Like the Pros.

  Klappentext

  The ideal companion to Investment Banking Investment Banking WORKBOOK is the ideal complement to Investment Banking: Valuation, LBOs, M&A, and IPOs, Third Edition--enabling you to truly master and refine the core skills at the center of the world of finance. This comprehensive study guide provides an invaluable opportunity to explore your understanding of the strategies and techniques covered in the main text before putting them to work in real-world situations. The WORKBOOK, which parallels the main book chapter by chapter, contains over 500 problem-solving exercises and multiple-choice questions. Topics reviewed include: - Valuation and its various forms of analysis, including comparable companies, precedent transactions, and DCF analysis -Leveraged buyouts--from the fundamentals of LBO economics and structure to detailed modeling and valuation -M&A sell-side tools and techniques, including an overview of an organized M&A sale process -M&A buy-side strategy and analysis, including a comprehensive merger consequences analysis that includes accretion/dilution and balance sheet effects -IPOs, including valuation, structure, and process, as well as SPACs and direct listings The lessons found within will help you successfully navigate the dynamic world of investment banking, LBOs, M&A, IPOs, and professional investing. Investment Banking WORKBOOK will enable you to take your learning to the next level in terms of understanding and applying the critical financial tools necessary to be an effective finance professional.

  Inhalt

  About the Authors vii

  Introduction 1

  Target Audience 2

  Content and Applications 2

  Chapter 1 Comparable Companies Analysis 3

  Questions 3

  Answers and Rationale 28

  Chapter 2 Precedent Transactions Analysis 55

  Questions 55

  Answers and Rationale 76

  Chapter 3 Discounted Cash Flow Analysis 93

  Questions 93

  Answers and Rationale 120

  Chapter 4 Leveraged Buyouts 149

  Questions 149

  Answers and Rationale 160

  Chapter 5 LBO Analysis 169

  Questions 169

  Answers and Rationale 189

  Chapter 6 Sell-Side M&A 205

  Questions 205

  Answers and Rationale 217

  Chapter 7 Buy-Side M&A 225

  Questions 225

  Answers and Rationale 243

  Chapter 8 Initial Public Offerings 259

  Questions 259

  Answers and Rationale 270

  Chapter 9 The IPO Process 277

  Questions 277

  Answers and Rationale 288