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  2. Hi WSO! Since the Amazon /Whole Foods acquisition seems to be the "hot topic of the day", I figured I'd help pay back the community for all the guidance and advice I've received from this forum over the many years. I am one of the empl ...

    +21 43 comments5 Oct 2017 -

  3. In this discussion I'd like to receive others perspectives on "Sweat equity partnerships". After speaking with an attorney last week, he mentioned one of his clients being only eighteen years old and owning twelve income producing MF proper ...

    +2 12 comments27 Jul 2019 -

  4. From Bloomberg: Facebook Inc. (FB), the world's biggest social-networking service, agreed to buy the Instagram mobile photo-sharing application for about $1 billion in cash and stock, its biggest acquisition yet. The transaction is expected to close ...

    +3 106 comments10 Apr 2012 -

  5. Thoughts? This price represents ~32x TTM EBITDA....overpaid or good to buy them now before Kayak eats thier lunch?...not surprisingly, Orbitz up 12% after hours. What is a bit crazy here is the premium paid. I think this is actually a very smart move by P ...

    15 comments8 Nov 2012 -

  6. So a quick background on myself: I am in college, but come from a real estate family so these numbers are not "out of reach" as far as this case goes. I came across an offering for $25M deal in retail space. It is in a good part of town with wel ...

    18 comments10 Dec 2013 -

  7. this is coming from someone who is completely new to trading asking for information. i know the answer is "it depends" but from your experiences for a long time what is the normal trend you see? company A buys out company B. company A has been t ...

    14 comments10 Oct 2016 -

  8. Hi folks! I'm very interested in REPE and would like to find out about the perspectives one has within a REPE firm's Asset Management and acquisition division respectively in terms of duties, pay, responsibility and the possibility of becoming a ...

    +2 14 comments26 Feb 2017 -

  9. .......................................................................................................................................... acquisition No Yes 191763 391774 445616 178209 262108 ...

    11 comments10 May 2018 -

  10. Monkeys,-Long time lurker, first time poster. Some background on me...-Non-target state school 3.55 qpa, Finance major (3.8 gpa), Econ minor (December 2012 grad)-Taking CFA L1 in June I recently accepted an offer at a commercial bank as an RE credit analy ...

    15 comments21 Dec 2012 -

  11. I had a chance to talk very briefly with a friend of a friend of a friend. I'd say he's in his 40s now and was the owner of what sounds like a decent-sized business that he initially inherited and finally sold for a nondisclosed price last year. ...

    17 comments6 Jan 2010 -

  12. Have a question on purchase price allocation. I have drawn up an example below. Portfolio- 100 industrial buildings- 250 tenants- Average size building 200,000 SF- 20,000,000 SF- Occupancy 95%- Market Rent $0.50 NNN / month- Yr 1 NOI- $114,000,000 ($1.14M ...

    11 comments1 Mar 2016 -

  13. So more of an informational thread for newbies like me who have a general idea but not any real experience regarding this. so a company has long term debt of diff forms (senior notes at diff rates at a few hundred million dollars each, convertible notes a ...

    11 comments19 Nov 2014 -

  14. Hi, Can someone please direct me to a website where I can gather information about Transactions that have happened within the last 12 months? This is for a comp I am running on a Quick service Food company. Thank you, N. mergers acquisition No Yes 217845 ...

    +1 13 comments18 Sep 2008 -

  15. I am currently weighing two job offers. One is at a development shop that focus's on shopping centers and STNL properties, the other is in an acquisitions role for single family homes at a tech startup. I see pros and cons to both roles. Would you ch ...

    +2 6 comments23 Jan 2019 -

  16. Is this still considered a LBO?

    Investment Banking

    Is it still considered a LBO if a public corporate acquires another corporate (private) using 100% debt? I know the term LBO is typically used in the context of a sponsor using a significant amount of leverage to acquire a company, but wasn't sure if ...

    +2 7 comments13 Mar 2018 -

  17. Is this not the highest multiple that you have ever heard of? I haven't gotten to look at the financials, but 7.3x revenue is out of this world. I assume this seems out of place in part because of high margins, but still, how much growth can you real ...

    11 comments29 Mar 2012 -

  18. Hey guys, I'm an undergrad currently working as an intern in an firm that provides M&A advisory services to select clients, and I've been assigned a task to locate potential acquisition targets in the Southeast Asian market for a client. Now ...

    10 comments1 Sep 2013 -

  19. .................................................................,,,................................. CMBS commercial real estate acquisition ...

    +3 7 comments8 Dec 2017 -

  20. Purchase Options

    Real Estate

    What are the benefits for the buyer and seller, when entering into a purchase option for commercial property? Recently screened a deal between two family offices/boutique investment firms that agreed upon a purchase option for a mixed-use property in Soho ...

    +3 6 comments1 Oct 2018 -

  21. KPMG Corporate Finance Info

    Corporate Finance, Development and Strategy

    I saw a posting for an Associate role in KPMG's Corporate Finance Group. I was hoping to get some information on the group. Does anyone have much info on compensation (including progression), culture, working hours, travel potential, etc. Any informa ...

    +2 6 comments9 May 2018 -

  22. http://dealbook.nytimes.com/2014/02/12/comcast-set-to-acquire-time-warner-cable/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Mergers%20&%20Acquisitions&action=Click&pgtype=Blogs&region=Body Massive news. Merger acqu ...

    8 comments12 Feb 2014 -

  23. I am new to CRE and just started working as an analyst for a REPE firm. I have never used Argus before but started using it today. I have a lot of questions and am hoping someone on WSO can help me out. I am working for a small firm in the Midwest and am ...

    +1 6 comments11 Jul 2017 -

  24. Does any one know some successful cases in which PE company or investment related company acquired investment banking(in USA, HK,Singapore,Sweden or Norway) during the previous years, I mean in the previous five years. Thank you acquisition No Yes 432294 ...

    7 comments11 Aug 2011 -

  25. Big 4 M&A opportunity

    Management Consulting

    Hi All, I'm hoping for some advice. I'm currently working in technology consulting revolving around SAP. I had previously worked on a global M&A project, and some of the big4 guys reached out and want me to join their M&A practice. My qu ...

    +1 5 comments21 Sep 2016 -

  26. So it's nice to see some big IB deals and capital raises in the headlines. GM's IPO, Intel's acquisition of McAfee and BHP attempting to acquire Potash. GM http://online.wsj.com/article/SB100014240527487036... Intel http://online.wsj.com/ar ...

    6 comments19 Aug 2010 -

  27. I'm not sure how to note/format this on my resume and would appreciate any help. I was hired by company X. Soon after I started, company Y acquired company X. Who do I list as my employer on my resume? Which should it be? 1) Company X (acquired by Co ...

    5 comments19 Jul 2012 -

  28. On March 27, Foxconn agreed to buy roughly 10% of Sharp, in addition to an LCD factory that Sharp lost a sweet chunk on. ...

    5 comments29 Mar 2012 -

  29. Need Opinions on SA---Patent IB

    Investment Banking

    What would you guys think of this description for duties as a summer intern. This is for a unique patent acquisition and valuation firm.... "Among the projects that I could immediately require your assistance. Productization / Marketing launch Assist ...

    5 comments18 May 2011 -

  30. Hi All, I currently work as an Associate in S&T Capital Markets covering Fixed Income Institutional clients on the sales side. Over the years I have gained a strong appreciation for real estate (through a little bit of capital market txn and personal ...

    +1 3 comments5 Aug 2019 -

  31. I wanted to get peoples opinions on both of these courses. I have done some research online and found that these two were the most recommended. Is one superior than the other in regards to total content? Which one is better for learning to underwrite comm ...

    +2 3 comments25 Jul 2019 -

  32. Is it true that when a company acquires another company then most of its important fundamentals and valuation multiples are at a premium/higher (less favorable) than most of its peers? Also, does the change in the company's fundamentals occur once it ...

    4 comments16 Sep 2015 -

  33. Modeling a Private Company Acquiring Another Private Company

    Corporate Finance, Development and Strategy

    I see lots of resources for modeling the acquision of a public company by another public company. But I have seen very little resources for modeling a private co acquiring another private co. Can anyone point to some resources or give a detailed explanati ...

    4 comments6 May 2015 -

  34. Hey guys, Recently, I was able to secure a position at a small retail investment company as a deal guy (I have a basic understanding of how to analyze investment opportunities, but I was wondering if you guys could chime on what I should study before star ...

    4 comments18 Feb 2015 -

  35. 1. What is firepower in M&A? 2. How do you calculate the firepower of a company exactly? M&A acquisition Interview question cash firepower No Yes 163416 54687 150955 211481 283932 ...

    +1 4 comments1 Dec 2014 -

  36. Please share with me any signals or indications that a potential non-public acquisition may be in the works. This might be takeover defense strategies or anything "out there" that may be a signal. Please list out any obvious (open market repurch ...

    4 comments16 Sep 2010 - Anonymous Monkey

  37. As opposed to a strategic acquisition No Yes 358718 398347 192310 119169 278391 ...

    4 comments27 Jul 2010 -

  38. I'm planning on leaving my current position in a Big 4 firm after realizing that an internal switch to a more RE transaction focused advisory role would take almost the same amount of time as finding a new job altogether (if not longer). Like everyon ...

    3 comments24 Aug 2017 -

  39. Hey guys, I have a quick question regarding the acquisition of a public company. This is pretty basic, but one that I never figured out (and probably should ahead of upcoming interviews): Using Softbank's acquisition of Sprint as an example, Softbank ...

    3 comments18 Jan 2013 -

  40. Is an internship in Strategic & Acquisition Finance a good thing to do before an m&a one? Knowing that at the moment, i probably won't find any in m&a (non target school). What about the lifestyle in acquisition finance? The comp for anal ...

    3 comments10 Feb 2010 -

  41. Hello everyone, I have an upcoming interview for the SA program at Blackstone London, they have not specified whether I will be rotating or working in a particular team, so I want to be prepared for anything. What technical questions will they likely ask ...

    +1 2 comments30 Apr 2018 -

  42. If a firm has done something like 300 acquisitions since the 1990s and had organic growth in addition to growth through acquisition, then would you make an acquisition schedule or something to make revenue and CapEx projections? I really dont know how can ...

    2 comments20 Aug 2014 -

  43. A few months ago Coty and Avon were all over M&A news. Now Coty have withdrawn their offer because of Avon's lack of engagement in discussions. Do you think this was the right thing to do? It was a timeline of 2 months. This seems a bit unreasona ...

    2 comments15 May 2012 -

  44. Microsoft to Acquire nVidia?

    Investment Banking

    http://sg.news.yahoo.com/microsoft-pact-nvidia-cou... http://www.rumorpedia.net/microsoft-sets-up-acquis... Interesting move on Microsoft's part. They have no plans to acquire nVidia in the immediate future, but since Windows 8 is launching on ARM, I ...

    2 comments4 Jun 2011 -

  45. Process of Banking

    Investment Banking

    How does a company go about using the services of an investment bank? Do they email an MD? Or do they call a phone number saying they want to use the bank's services? How do they get the ball rolling? Merger Banking acquisition monkey No Yes 101975 1 ...

    2 comments2 Nov 2010 -

  46. how do I treat the non controlling interest as the acquirer? the nci is $480 m while if I simply paid a 15% premium to current price i would pay ~ $250m. I am supposing an all stock transaction. Nci is added to common equity, so the book value of the targ ...

    +1 1 comment8 Aug 2019 -

  47. In Companies that have incentives on acquisition other than end year bonus, what is the basis of allocation of sourcing incentives (IPO/Sell Side) (for sourcing/acquisition of deals), who all get the incentives? Is it given to the entire team who have wor ...

    +1 1 comment30 Jul 2018 -

  48. An acquisition is an action by a corporation to assume control of a target firm. This is done by buying either all or most of the target's ownership stakes. Acquisitions can either be friendly (the target firm agrees to be acquired) or hostile (the t ...

    23 Apr 2012 -

  49. Biotech PE to Healthcare IBD?

    Investment Banking

    Ladies and gentlemen of WSO, I could really appreciate your input on what you would do in my situation. I'm posting in the investment banking forum because I'm considering trying to lateral to bb / mm ibd from my pe role. If you have other ideas ...

    +1 1 comment26 Dec 2017 -

  50. Fred's Inc. is proposed to step in and invest in Rite Aid in order to facilitate Rite Aid's merger with Walgreen. But, the merger is once again stalled with the concern that Fred's does not have enough money to buy all of Rite Aid's st ...

    6 Apr 2017 -

  51. Hey everyone, New to WSO here. I am doing a comparable company analysis and had a little question. I noticed for one of the comps that an 8K came out since the latest 10q and reported a recent acquisition (all cash transaction). Obviously this will affect ...

    18 Mar 2017 -

  52. Dalian Wanda, the world's largest cinema chain operator based in China, terminated its deal to buy Dick Clark Productions. Since Dick Clark Productions runs the Golden Globes and Miss America competitions, this purchase would ultimately increase the ...

    13 Mar 2017 -

  53. After all the talk of AT&T's acquisition of Time Warner, I was wondering: what are some of the best acquisitons of this year thus far? CNBC states Charter Communication's acquisition of Time Warner as especially beneficial: The merger expand ...

    11 Nov 2016 -

  54. As of this week, Fortune reports: The Oracle $9.3 billion acquisition of NetSuite will officially close on Monday, Oracle said early Saturday morning. After conflict surrounding price negotiations, in which investment firm T Rowe Price claimed that $9.3 b ...

    6 Nov 2016 -

  55. Spinning off Twitter

    Investing, Markets & Macroeconomics

    There have been a multitude of rumors concerning the possible sale of Twitter to a variety of suitors. The underlying problem has been the method of valuing the struggling tech company. This article from Bloomberg highlights one of the many complications ...

    14 Oct 2016 -

  56. How much debt could a company issue in merger or acquisition? (from interview prep) The provided answer was as follows; You would use the combined company's LTM (Last Twelve Months) EBITDA figure, find the median Debt/ EBITDA ratio of whatever compan ...

    1 comment18 Sep 2016 -

  57. By now, it should be no secret that I am not a fan of acquisition-driven growth. I have argued in my previous posts that acquirers often pay too much, that many acquisitions are driven by CEO egos and overconfidence, that M&A bankers are too conflicte ...

    1 comment21 Dec 2012 -

  58. I understand that logically, if intangible assets are amortized, then the company is going to take a hit to the income statement. But this doesn't happen right away, right? I mean, the company would have to re-asses its assets (like Ebay/Skype) and t ...

    15 Nov 2015 -

  59. Acquisitions

    Investing, Markets & Macroeconomics

    Suppose i'm reading up on a possible acquisition of company A by company B. Company A is trading at $40 and an acquisition deal has been announced. The deal closes in six months at $45 per share and I currently long 100 shares of company A. Assuming ...

    1 comment9 Apr 2014 -