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FIG M&A: key considerations to assess in buyside transaction
Hi guys, I just wanted to ask you folks if you had any knowledge on key questions to ask a potential buyer (in this case, a private bank) on how he envisages a transaction in buying another private bank? I guess you would have to ask the approach, financial improvements/synergies, regulatory...
Is there any good Book on Past Mergers and Acquisition - Successful and Unsuccessful real deals
Hi fellow monkeys, I am looking to read stories and accounts of past mergers and acquisition deals (past 2-3 decades). On Amazon and other websites, I only find technical books 'how to do merger and acquisition' which i don't want. I want the stories of actual deals, people involved. If not any...
Deloitte M&A Advisory to M7 MBA
Hello everyone, I am currently finishing my bachelors and I am thinking whether to accept or not a position in the M&A team at Deloitte. I know that Deloitte has a nice brand and all, but: - Is M&A at Deloitte valued as much and BB investment banking at M7 business schools? - Can I compensate this...
Elite Boutiques - Advising on BB M&A deals?
Non-banker here. Am I off-base in my understanding that elite boutiques sometimes advise on deals done by larger, BB banks? If so, could anyone flesh that out a bit and help me better understand what goes on there?
Public Accounting to Banking Resume
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worth taking M&A?
I have an internship offer from an M&A shop specializing in tech. They are not an investment bank per say because they only do 100% cash M&A deals. With that being said, they still do some 300mm+ deals and have sold companies to big boys (Msft,Intel, Carlyle, etc). If I want to get into ibd...
Transaction Log
Hey WSO , I want to start a log of all the projects / transactions I've worked on. and would like some input from the community regarding what should be in it. I'm thinking basic stuff like target comp, acquiring comp, industry deal size / final valuation. Does anything else come to mind that would...
Must See Videos for Bankers and Those Interested in IB
Bankers vs. Consultants - A Day in the Life of an Analyst - https://www.youtube.com/watch?v=RcsRKaJPNDM
Questions about Lazard
Wanted to get a better sense of how Lazard is doing as an IB . Have a few questions that I'd appreciate answered. 1) How is Lazard's reputation now? I know its historically been strong, but Evercore/Centerview are doing well. Is Lazard still as strong as it used to be? 2) What were placements like...
Macquarie Capital IB West Coast
Hello everyone, Would you guys and gals be able to provide some insight into Macquarie's West Coast (SF,LA) IB operation? Deal flow, deal sizes, industries covered, reputation, exit ops, etc. Thread responses and PMs are welcome. Thank you all!
Guggenheim (M&A) vs. Houlihan Lokey (Restructuring) for Summer Analyst
Hey guys, So I just finished up my cycle for SA recruiting and I have two offers to choose from: Guggenheim generalist and Houlihan Lokey for restructuring. What do you think is the better opportunity in terms of prestige/compensation/culture/intern offer rate/exit opps? The most important thing for...
Can you kindly rip apart my resume?
I thought I had a good resume prior to applying to banks on campus. I did not get any first round interviews and am trying to diagnose why. Good place to start is always the resume, so kindly tear it apart. NOTE: I keep my high school on my resume because it is a private high school with a large and...
Portfolio Ops to M&A
I'm looking for some advice on a possible career move. Right now I am working for a Portfolio Ops team (Value Creation in large investments) for a $100b+ firm, think Abu Dhabi Investment Corp, CPPIB, GIC. I have an offer to move to the M&A team within the same company, they help the investment teams...
DC Advisory vs. Commerzbank, both M&A internship Frankfurt
Hi guys, What do you think would be the better choice? Especially when it comes down to getting more internships/graduate programs at BBs /top boutiques?
Undergrad Business Program Broad vs. Kelley
Which would land me a better shot at a BB IB? Do I have any shot at breaking into the business staying at these school or should I hope for a decent transfer after freshman year? I am interested in M&A btw. I have applied to a few other schools as well if they rank higher. Loyola University Chicago...
Valuation Case - Companies with real state
Fellow monkeys, During another day of valuation, something crossed my desk. It was an M&A advisory for a small industry (
M&A model question - projecting financial profile and statements of buyer/seller
When it come to projecting the financial statements of the buyer and seller in the pre M&A analysis how long are you projecting them? What the purpose of these projections if your only combining the income statements with the considerations of the purchase price and financing methods? Thanks in...
McKinsey vs Perella Weinberg Partners
Hi I receive full time offers from both McKinsey and Perella Weinberg Partners in London. Which one would you choose? Which has the better exit options and which offer ist better for business school in the USA?
Who on your team selects the potential acquirers for a company? How do you do it?
I'm curious to hear about other bankers' experiences. Assuming it's a typical sellside M&A process with a MD, VP, Associate, Analyst. Who on the team usually selects the acquirers to reach out to? And what's your process of identifying these acquirers? I.e. competitors, companies known to be moving...
Firepower Analysis - General&Interview question
1. What is firepower in M&A? 2. How do you calculate the firepower of a company exactly?
Perella Weinberg Partners (LND) vs Rothschild (LND) vs Citi (London)
Which bank would you choose. What salary and bonus could you expect in London?
Too many debt issuances and not many M&A Deals a bad thing for IB Analysts?
Hey all - wanted to get your thoughts on this: will an Analyst get any interest from PE recruiters if your BB industry/coverage group has had many debt issuances but only one large M&A transaction (2011)? On behalf of someone who is interested in moving to an Associate in PE . Thanks
M&A job difference between Banks and Accounting firms
I was wondering what is the difference if any between the M&A jobs in banks and those in accounting firms! Is it worth looking in accounting firms rather than small and unknown investment banks?
Citi M&A vs. GS/MS/JPM
I summered in a BB coverage group as a sophomore and received a return offer for next summer. While the fit was good, it was a mediocre experience and I'd like to explore other opportunities. That said, I have another offer with Citi M&A that seems great. I've networked with the group extensively...
Get the M&A Game Before Tomorrow's Launch!
So I reached out to Sam Riley, the CEO of Ansarada, after all the excitement on WSO over their M&A game, and he graciously agreed to the following interview. On top of that, he also gave me a link to share with you guys where you can get the game today before its official launch tomorrow. I've...
Who's Playing the M&A Game?
Big hat tip to @"TheKing" for tipping me off to this one. This becomes the most downloaded iPhone app by WSO monkeys in history in 3...2...1... The game was created by Ansarada, a company in the virtual data room space . For those not involved in mergers and acquisitions, a data room is a secure...
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Best Field for Ambitious Go-getters
I have recently started working as an intern in risk management at one of the largest European banks, and have just completed a Master's degee in a highly quantitative subject (not directly related to economics/finance) with a strong IT background at a very important European university. Brutally...
Citi M&A TMT or Financial Sponsors to VC?
Fellow Monkeys, I am considering joining Citi in London soon. I have the opportunity to either join their TMT team (which, from what I understand, is mainly focused on M&A transactions but will involve some ECM / DCM work as well) or their Financial Sponsors team (where 2/3 of the workflow revolves...
Buy Side Engagement Letter
Anyone have examples that are publicly available? I'm particularly interested in how "acquisition idea" is defined. I feel that some teams just pass a list of 1,000 names - and then say if you acquire any of them, you have to pay up. Would appreciate some insight on this topic.
Are you selling any companies?
I know MergerMarket is a good source for which investment bank is selling what company. I also know Axial is a network for much smaller sell side mandates. Know of any others besides DealBook?
Here goes nothing, internship applications here I come!
Going into second year of uni, looking forward to the job hunt. Have spring week experience already at mid/lower tier BB in the UK, want to upgrade and go for MS/ GS / JPM in corporate finance , either M&A or ECM (currently weighing the two up). Currently at a top target university, strong interest...
Lateralling from FIG to M&A
I've been told by several people that FIG teams typically do their own M&A transactions internally, since the generalist M&A team doesn't understand the more esoteric methods of financial institution accounting and valuation. Is this true? Also, if I'm going into FIG and work on M&A deals, could I...
RBC vs Nomura in the US?
I work in London, and just wondering for IBD in the US, which out of RBC or Nomura would you say has the stronger franchise / more prestigious?
Big 4 TAS M&A Advisory Intern - Is what I am doing basically the same as IBD?
I am a rising sophomore halfway through an internship with the M&A Advisory Group in a Big 4 firm's "Transaction Advisory Services". It's all a bunch of weird ass names and subdivisions, and I guess I'm not sure if Big 4 can call a spade a spade, which is why I'm confused half the time. Is what I am...
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Should I spell out Mergers & Acquisitions on my resume?
"Mergers & Acquisitions (M&A)" vs. "M&A".
Resume for IB Analyst Position
I'm looking to apply to full time analyst positions in NY and possibly London come fall and am currently in the process of refining my resume. Unfortunately I don't have an IB internship on my resume, but do have modeling experience through both classes and TTS courses I've taken. I would appreciate...
Anyone on this forum work on the whole Hillshire deal?
Very interesting what happened over the last month with Hillshire. They went from about to make a big acquisition to being thrown into a bidding war. I would love to hear what the atmosphere was like at some of the banks representing one of the companies involved.
Distressed Hedge Fund to VC?
So coming up to end of my first year in M&A and looking to jump ship. Ultimately I want to do VC , but that only seems accessible after 3/4 years of experience. Am currently considering a few junior positions at distressed debt hedge funds and just wondering how it would impact my chances of getting...
DC Advisory (ex Close Brothers)
Hi guys, I have a 1st round interview for the Summer Intern position with DC Advisory coming up this week. I will have 10 min conversation with Dartmouth Partners (ex Cornell Partnership) employee. Any idea what can I expect? Btw, this is for either London office. Additionally, there are very few...
Barclays - Top IBD Groups in UK/EU?
Hi guys, "long" time lurker here. I was wondering if anyone could drop some insight on top IBD groups at Barclays, London office in particular. I was given an opportunity to name my top 3 preferences for the SA internship. I talked to several analysts last week, so I have some information. PE and...
Mergers and Acquistions Iphone game!!
Came across this last fall and apparently the designers of the game released it this year. I feel that the monkeys of WSO might appreciate this game: https://itunes.apple.com/us/app/m-a-game/id786950928?ls=1&mt=8 Interested in hearing some reviews of it, or if anyone currently plays it. Cheers
How can I determine if a non-core portfolio sale is accretive / dilutive to a REIT? SBs for helpful answers!
I am trying to determine if offloading a small portfolio would be Accretive to earnings for a REIT ... not really sure where to begin. Are portfolio sales always all cash transactions? Are there any guides or resources I can refer to regarding accretion / dilution for portfolio sales? Thanks!
Unreasonable Expectations
Before anyone starts, I understand that this is I-Banking, and that slave-driver bosses are a commonality. However, I think my situation might be a bit extreme, and I was hoping to see if there's anyone out there that could relate. I work at a well known MM bank as an analyst. I loved this job for...
What happens to a company's bonds when they either merge or are acquired?
I have a fixed income analyst super day tomorrow and this will most definitely be asked. Can you guys help a college student out?
CIMs in powerpoint
I've been seeing a quite a few shops putting out CIMs in ppt instead of a word doc, has anyone seen this and are any of the bigger firms moving this way? And no, i'm not talking about mgt presentations, haha.
M&A Comparables for Precedent Transactions
What database do you guys use? At my bank, we only have Cap IQ and Dealogic (Don't have M&A analytics module) and at least in Cap IQ you find deals but get NAs for all the multiples and without multiples it is useless. What program and methodology do you guys use for this? I tried MergerMarket but...
It's official: Dell going private
Michael Dell and Silverlake announce $24.4bn deal @ $13.65/share (25% premium to $10.88 close on 1/11/13). 45 day go-shop available. MSFT to contribute $2bn loan. Debt financed by BAML , Barcap, CS , RBC Dell itself was advised by Goldman Sachs Silverlake advised by BAML , Barclays, CS , and RBC
Nomura vs Houlihan Lokey
Which would you pick over Nomura or Houlihan Lokey for FT IBD? To put it simply wondering which one has greater prestige and would bestow better exit opps, both in London and the US.
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