Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions (Wiley Finance)

A timely update to the global best-selling book on investment banking and valuation 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, Second Edition 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--as well as M&A 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, as well as merger consequences analysis. 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 for M&A, capital markets, and investment opportunities.. 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. As a result, Rosenbaum and Pearl have updated the widely adopted first edition of their book with respect to both technical valuation fundamentals as well as practical judgment skills and perspective. The authors have also added a comprehensive and highly technical chapter on buy-side M&A analysis. Furthermore, the authors address the importance of rigorous analysis based on trusted and attributable data sources. In this book, they highlight several datasets and investment banking tools from Bloomberg, a leading provider of business and financial data, news, research, and analytics. Investment Banking, University Edition Is A Highly Accessible And Authoritative Book Written By Investment Bankers That Explains How To Perform The Valuation Work At The Core Of The Financial World. This Body Of Work Builds On Rosenbaum And Pearl's Combined 30+ Years Of Experience On A Multitude Of Transactions, As Well As Input Received From Numerous Investment Bankers, Investment Professionals At Private Equity Firms And Hedge Funds, Attorneys, Corporate Executives, Peer Authors, And University Professors. This Book Fills A Noticeable Gap In Contemporary Finance Literature, Which Tends To Focus On Theory Rather Than Practical Application. It Focuses On The Primary Valuation Methodologies Currently Used On Wall Street--comparable Companies, Precedent Transactions, Dcf, And Lbo Analysis--as Well As M&a Analysis. The Ability To Perform These Methodologies Is Especially Critical For Those Students Aspiring To Gain Full-time Positions At Investment Banks, Private Equity Firms, Or Hedge Funds. This Is The Book Rosenbaum And Pearl Wish Had Existed When We Were Trying To Break Into Wall Street. Written To Reflect Today's Dynamic Market Conditions, Investment Banking, University Edition Skillfully: Introduces Students To The Primary Valuation Methodologies Currently Used On Wall Street ; Uses A Step-by-step How-to Approach For Each Methodology And Builds A Chronological Knowledge Base ; Defines Key Terms, Financial Concepts, And Processes Throughout ; Provides A Comprehensive Overview Of The Fundamentals Of Lbos And An Organized M&a Sale Process ; Presents New Coverage Of M&a Buy-side Analytical Tools--which Includes Both Qualitative Aspects, Such As Buyer Motivations And Strategies, Along With Technical Financial And Valuation Assessment Tools ; Includes A Comprehensive Merger Consequences Analysis, Including Accretion/(dilution) And Balance Sheet Effects ; Contains Challenging End-of-chapter Questions To Reinforce Concepts Covered. A Perfect Guide For Those Seeking To Learn The Fundamentals Of Valuation, M&a , And Corporate Finance Used In Investment Banking And Professional Investing, This University Edition--which Includes An Instructor's Companion Site--is An Essential Asset. It Provides Students With An Invaluable Education As Well As A Much-needed Edge For Gaining Entry To The Ultra-competitive World Of Professional Finance.--publisher's Website. Introduction -- Part 1: Valuation. Comparable Companies Analysis ; Precedent Transactions Analysis ; Discounted Cash Flow Analysis. -- Part 2: Leveraged Buyouts. Leveraged Buyouts ; Lbo Analysis. -- Part 3: Mergers & Acquisitions. Sell-side M&a ; Buy-side M&a 355. -- Solutions Manual. Joshua Rosenbaum, Joshua Pearl ; Foreword By Joseph R. Perella ; Afterword By Joshua Harris. Includes Internet Access. Includes Bibliographical References And Index. "Investment Banking, University Edition is a highly accessible and authoritative book written by investment bankers that explains how to perform the valuation work at the core of the financial world. This body of work builds on Rosenbaum and Pearl's combined 30+ years of experience on a multitude of transactions, as well as input received from numerous investment bankers, investment professionals at private equity firms and hedge funds, attorneys, corporate executives, peer authors, and university professors. This book fills a noticeable gap in contemporary finance literature, which tends to focus on theory rather than practical application. It focuses on the primary valuation methodologies currently used on Wall Street--comparable companies, precedent transactions, DCF, and LBO analysis--as well as M & A analysis. The ability to perform these methodologies is especially critical for those students aspiring to gain full-time positions at investment banks, private equity firms, or hedge funds. This is the book Rosenbaum and Pearl wish had existed when we were trying to break into Wall Street. Written to reflect today's dynamic market conditions, Investment Banking, University edition skillfully: Introduces students to the primary valuation methodologies currently used on Wall Street ; Uses a step-by-step how-to approach for each methodology and builds a chronological knowledge base ; Defines key terms, financial concepts, and processes throughout ; Provides a comprehensive overview of the fundamentals of LBOs and an organized M & A sale process ; Presents new coverage of M & A buy-side analytical tools--which includes both qualitative aspects, such as buyer motivations and strategies, along with technical financial and valuation assessment tools ; Includes a comprehensive merger consequences analysis, including accretion/(dilution) and balance sheet effects ; Contains challenging end-of-chapter questions to reinforce concepts covered. A perfect guide for those seeking to learn the fundamentals of valuation, M & A, and corporate finance used in investment banking and professional investing, this University edition--which includes an instructor's companion site--is an essential asset. It provides students with an invaluable education as well as a much-needed edge for gaining entry to the ultra-competitive world of professional finance."--Publisher's website The No. 1 guide to investment banking and valuation methods, including online tools In the constantly evolving world of finance, a solid technical foundation is an essential tool for success.