Have you ever seen factoring as a source of funding to finance a company acquisition? (i.e. selling off the targets existing receivables or inventory to a third party - which pays you cash upfront - to fund the acquisition, with futures receivables or inventory also being sold off to that third party to fund working capital shortfalls as a result of the acquisition structure).
How likely is this and how would you model it? If the balance sheet of target company is big enough it seems easy, along with traditional debt sources, to be able to fund transactions with little to no equity