Hi,
Had to do a merger model case study under time pressure recently. Shortly after the interview, realised that I forgot to include purchase of minorities in sources and uses.
Due to the specifics of the case, this would have resulted in lower accretion as we would have had to issue more stock. So my end numbers were not accurate. Also, this then means that "our fund's stake" is 0 post M&A since it gets acquired (there was a question which gave me our fund's stake and asked what would it be under different financing scenarios post M&A).
Everything else is correct. I went through my model with the interviewer but he didn't give any comments on the spot. How big of a mistake would this be in the eyes of the more senior folk if you were hiring an analyst?
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