What kind of technicals does JPM M&A ask?
Please give detailed answers. I know the interview is near the top of the street in terms of difficulty, but idk if it's because of length depth or variety of questions. Thank you!
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For the NY office, they are as follows (they differ for the SF office, so let me know if you'd like those as well).
Can you also give answers both for me and anyone else who reads this thread?
You can easily find answers yourself no?
Wait did you mean sources and uses of funds for LBO? That was the only one that got me
You're cooked bud. It's a very standard question.
If you have to ask this, start prepping for FP&A roles
Taking a stab myself:
reason for deal not to close isn't the most common reason regulatory issues? feels like all mega deals are stalled at FTC rn
Pretty much in a nutshell.
For sell side process I would elaborate a bit more to include things such as (in no particular order):
1. Potential buyer research / analysis (sponsor vs strategics, do they likely have the funds/size to do the transaction)
2. Creation of teaser for wider distribution to potential buyers
3. Buyer outreach through relevant contacts / coverage teams at bank
4. Creation of CIM / Sell side model for eventual distribution to interested parties that have signed an NDA
5. Internal valuation work / benchmarking through the standard methods (DCF, buy side LBO cases, comps etc) for rough estimates of valuation
6. Once NBOs come in, bid analysis for which bidders you take through to phase 2
7. Phase 2 Q&A process
8. Binding offers and negotiating SPA
What do they ask for SF?
Quick fire of 30+ technicals. Do you want me to list them all?
Hey - I have mine coming up, can you send more questions you know of please???
Paper LBO - numerical
Accretion / dilution math - simple earning yield calc for all stock + weighted avg cost of acquisition calc
DDM walkthrough
DCF walkthrough - few questions on how changes in inputs affect output
Multi-step accounting questions - simple inventory purchase, conversion to sale, PPE purchase using debt, PPE sale at gain/loss
One super tricky one - impact of trump big beautiful bill on DCF (threw a number of folks I know off)
which office?
Following good thread.
Pm for their case
someone previously recommended the site liquidityshark to me which i tried and it has some real JPM questions-- maybe worth a look. From what i remember the hirevue wasn't too technical but the following round got intense.
Did you guys network for the process or get past resume screen from cold applying? I got an interview with 0 networking which I find weird
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