Valuing UBS after CS acquisition
Hi all,
Was curious to see how one could model the acquisition of a distressed company such as CS? Also interested in how to do this for banks specifically and in any resources that cover this in depth.
following. interested as welll
For the bank: model spread income net of an assumption for losses from the merger.
For other businesses like IB advisory: assume some market share increase and apply a multiple
This seems like a pretty pointless exercise. this deal will have enormous revenue dis-synergies, headcount reductions, facility closures, and a ring-fencing of numerous CS businesses. CS balance sheet needs to be marked to market. Etc.
UBS itself probably has 0 insight into any of these issues. There’s no way you can create a model worth a damn with this much uncertainty.
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