Corp Dev Interview Case Study Question

I have a 6-hour modeling case study for a corp dev group. It's a forecast & valuation exercise. I am not a banker by training but they like my background.

I'm uncertain how the M&A deals calculate return. i.e. beyond figuring out what the deal is worth today how do they figure out what it's worth in the future beyond the acquisition?

obvious items, synergies on the revs side (up-selling/cross-selling), cost side, reduce SGA, etc.

Any tips on this type of exercise would be very helpful. Thank you.

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