TheKing:
Anyone here ever fly AirTranny? It's awful. No legroom whatsoever.

I always got there early and paid the extra 40 bucks for a bump to the business class. Actually always enjoyed flying with them.

 

Never had a problem with them either except that the employees always seemed to be a few standard deviations below the mean in terms of intelligence but you get that anywhere

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Weirdest thing to see the stock of the acquirer go up during the day. Must be the mythical "synergies."

"Dude, not trying to be a dick here, but your shop looks like a frontrunner for the cover of Better Boilerrooms & Chophouses or Bucketshop Quarterly." -Uncle Eddie
 
Best Response
solidgk:
Hi guys,

I saw that SWest are paying $1.4bn, but then I saw that EV = equity + debt/leases = $1.4bn + $2bn. How are they not paying the full enterprise value?

Technically are they paying the extra $2bn by assuming the debt?

Thanks.

Wow... Think it about it. If you buy the equity, you control the company. They aren't "technically" paying anything more than the 1.4B they are paying. Look at a balance sheet- A = L + E or E = A - L. Yes, you assume the debt but what you are paying for is the difference between the Assets and Liabilities plus whatever premium you pay which ends up in Goodwill (can be thought of as the value of controlling the company which is why acquisition comps are higher than public comps).

 

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