SEC Risk Factors Disclosure Analysis
Harvard Corporate Governance
DECEMBER 3, 2023
Public companies continue to be challenged to create and protect enterprise value and stakeholder trust in the face of these and other significant risks.
IVSC Valuation Webinar Series 2022, sponsored by Kroll
IVSC
APRIL 29, 2022
Former Chief Economist, Bank of America Merrill Lynch, Japan. ” Intangible assets are increasingly seen to be driving enterprise value creation across sectors and industries. Panellists. Megan Greene United States Global Chief Economist, Kroll. Financial Times columnist. Jesper Koll Japan Leading Japan economist.
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Trending Sources
Power & Utilities Investment Banking: How to Turn Yourself into an Electrified ESG Warrior
Brian DeChesare
JUNE 1, 2022
The power & utilities investment banking team has a reputation for being “boring.”. We’ll get into these fun developments, but I want to start with the basic definitions: Power & Utilities Investment Banking Defined. ” Different banks classify their power & utilities groups differently.
Banking 
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Brookfield Infrastructure Announces the Acquisition of Colonial Enterprises
Benzinga
APRIL 3, 2025
("BIP") (NYSE: BIP , TSX: BIP ) and its institutional partners (collectively, "Brookfield Infrastructure") reached a definitive agreement to acquire 100% of the world-class midstream asset portfolio Colonial Enterprises ("Colonial"), which includes the Colonial Pipeline, for an enterprise value of approximately $9 billion or 9x EBITDA.
Investment Banking League Tables: Neutral Arbiter of Bank Rankings or Marketing Manipulation?
Brian DeChesare
JULY 5, 2023
If you want to find investment banking league tables , it’s easy: Google the term and add a specific region, industry, or year you’re interested in: “Investment banking league tables us healthcare [20XX]” For faster results, use Image Search to scan the results and find relevant-looking tables. 50 transactions), or fees (e.g., $200
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The Full Guide to Investment Banking Assessment Centers
Brian DeChesare
APRIL 12, 2023
Over time, investment banking recruiting has become more impersonal with developments like HireVue interviews , online tests, and recruiters conducting the initial screens. At some banks and groups in the U.S., OK, But Why Do Investment Banking Assessment Centers Exist? An AC is broader than the typical Superday in the U.S.
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Capital Markets vs. Investment Banking: Deals, Careers, Recruiting, Exits, and Offer Decisions
Brian DeChesare
OCTOBER 18, 2023
Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capital markets vs. investment banking. The questions usually go like this: Are capital markets teams (ECM, DCM, and LevFin) “real” investment banking? Do you learn anything?
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IVAS-IVSC Business Valuation Conference 2024
IVSC
AUGUST 28, 2024
This publication supports valuation professionals when they initiate conversations with their clients on ESG factors that might impact the valuation of a business.
Cornerstone International Alliance sets new record: $1.3 billion in business transactions
Exit Strategy
APRIL 14, 2023
2021 […] The post Cornerstone International Alliance sets new record: $1.3 billion in business transactions appeared first on Exit Strategies Group, Inc.
Remarks by Commissioner Uyeda at the Georgetown Law Hotel and Lodging Summit
Harvard Corporate Governance
OCTOBER 28, 2022
For example, it took the SEC over 30 years to review its disclosures regime for banks and savings and loan registrants. [7] 11] This was a quintessential investment decision involving the appropriate enterprise value of two different entities, not a vote on a routine matter or a non-binding shareholder proposal. 18, 2022). (go
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The Financial Sponsors Group: Masters of the Financial Universe, or Exit Opportunity Mirage?
Brian DeChesare
JANUARY 19, 2022
FSG Investment Banking: What the Financial Sponsors Group Does The Financial Sponsors Group vs. the Financial Institutions Group The Financial Sponsors Group vs. Leveraged Finance vs. Debt Capital Markets Recruiting: Who Gets Into the Financial Sponsors Group? Table Of Contents. normal, non-wealthy individuals).
Michael Kors and Jimmy Choo To Join The House Of Coach and Kate Spade, But It's Not All Rosy: Analysts Weigh In
Benzinga
AUGUST 11, 2023
per share in cash for a total enterprise value of approximately $8.5 billion in fully committed bridge financing from Bank of America N.A. On Thursday, Tapestry, Inc (NYSE: TPR ) disclosed plans to acquire Capri Holdings Limited (NYSE: CPRI ) for $57.00 Tapestry has secured $8.0 and Morgan Stanley Senior Funding, Inc.
The Dividend Discount Model (DDM): The Black Sheep of Valuation?
Brian DeChesare
MAY 3, 2023
But people who aim for investment banking roles are very much into those bells and whistles, so questions about the DDM and other “exotic” methodologies began rolling in. To be fair, in some industries – like commercial banks and insurance within FIG – the DDM is a core valuation methodology.
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Heartland Express Closes Acquisition of Contract Freighters Truckload Business
Benzinga
AUGUST 31, 2022
NYSE: TFII ) ("TFI"), for a cash enterprise value of $525 million, subject to certain adjustments. The credit facility includes a consortium of lenders, including joint bookrunners JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A. The term CFI does not include the CFI Dedicated or CFI Logistics U.S.
Nayax Completes Acquisition of Retail Pro International
Benzinga
NOVEMBER 30, 2023
The transaction was completed for an implied enterprise value of $36.5 Nayax financed the initial payment with bank financing from Bank Hapoalim. million on a cash-free debt-free basis, to be paid partially in cash and the remainder in cash or equity, subject to certain earnout targets being met.
Seaport Global Acquisition II Corp. and American Battery Materials Announce Definitive Business Combination Agreement to Create Nasdaq Listed Company
Benzinga
JUNE 2, 2023
Experienced and Proven Management: ABM's leadership team includes professionals with an aggregate of over 100 years of experience across natural resource extraction, geological engineering, global commodity logistics, and investment banking. June 02, 2023 (GLOBE NEWSWIRE) -- Seaport Global Acquisition II Corp.
Exela Technologies Inc.'s European business to go Public Through Merger with CF Acquisition Corp. VIII
Benzinga
OCTOBER 10, 2022
Transaction values the European business at an enterprise value of $220 million. The transaction values XBP Europe at an initial enterprise value of $220 million. Transaction is expected to close in the first half of 2023. Exela Technologies, Inc. IRVING, Texas and NEW YORK, Oct. Cantor Fitzgerald & Co.
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Mizuho to Acquire Premier M&A Advisory Firm Greenhill
Benzinga
MAY 22, 2023
NYSE: GHL ) today announced a definitive agreement for Mizuho to acquire Greenhill in an all-cash transaction at $15 per share, reflecting an enterprise value of approximately $550 million, including assumed debt. The Greenhill business will sit within Mizuho's banking division, led by Michal Katz, Head of Banking in the Americas.
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29 Valuation Interview Questions and Answers: Mastering the Art of Crackling Interviews
Equilest
NOVEMBER 25, 2023
These interviews are not just a mere formality but a critical component of the hiring process in finance, investment banking, and consulting. Difference between Enterprise Value and Equity Value? EV to EBIT: Examines the company's operating profitability relative to its enterprise value. How to Value a Bank?
Brookfield Acquires Share of Four UK Offshore Wind Farms from Ørsted
Benzinga
OCTOBER 30, 2024
offshore wind farms: Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 The enterprise value of the transaction is $2.3 Brookfield to acquire a 12.45% stake in 3.5 GW offshore wind portfolio under long-term contracts LONDON, Oct.
Ridgefield Partners Announces Launch of Middle-Market M&A Advisory Practice
Benzinga
OCTOBER 12, 2022
" Ridgefield is focusing on serving sell-side and buy-side clients in a wide range of sectors in the $10 million to $150 million enterprise value size range. In addition to his background in private equity and investment banking, Boane also built up and sold Traemand, the largest kitchen installation services provider to IKEA.
REAG Plays Key Sourcing Role in MCM’s Majority Recapitalization of TechNH
Scott Mashuda
SEPTEMBER 5, 2023
Cleveland, OH – REAG , a leading lower-middle market investment bank specializing in mergers and acquisitions, is proud to announce their support in the majority recapitalization of TechNH, Inc. TechNH) connecting them with MCM Capital Partners (MCM).
Project Finance vs. Corporate Finance: Careers, Recruiting, Financial Modeling, and More
Brian DeChesare
MAY 29, 2024
The term “Project Finance” at large banks refers to a group that operates like Debt Capital Markets or Leveraged Finance but for infrastructure rather than normal companies. in FP&A roles ) to advising clients on M&A deals in investment banking. the value of the target company’s core business operations in the deal).
MKS Instruments Provides Update on Pending Acquisition of Atotech
Benzinga
APRIL 1, 2022
Morgan and Barclays Bank PLC. "We At the time of the announcement, the equity value of the transaction was approximately $5.1 billion and the enterprise value of the transaction was approximately $6.5 The extension of the agreement is supported by a financing commitment from J.P. Lee, President and CEO of MKS.
Industrials Private Equity: The Best Place for Old-School Deals at Reasonable Multiples?
Brian DeChesare
JULY 31, 2024
We covered these three main segments in the industrials investment banking article , and they also apply here. Assume a Purchase Enterprise Value of $2.6 CD&R might get some multiple expansion if the cycle is more favorable by then, so let’s say the exit multiple is 6x, which makes the Exit Enterprise Value $3.6
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Jack Creek Investment Corp. and Bridger Aerospace Announce Registration Statement Effectiveness and Extraordinary General Meeting Date to Approve Business Combination
Benzinga
DECEMBER 20, 2022
As previously announced, and as further described in the Registration Statement, the combined company will have an implied $915 million pro forma enterprise value, assuming no redemptions by Jack Creek's shareholders. UBS Investment Bank is serving as capital markets advisor to Jack Creek. King & Co.,
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APA Corporation to Acquire Callon Petroleum Company in All-Stock Transaction
Benzinga
JANUARY 4, 2024
04, 2024 (GLOBE NEWSWIRE) -- APA Corporation ("APA" or the "Company") (NASDAQ: APA ) and Callon Petroleum Company ("Callon") (NYSE: CPE ) have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 JPMorgan Chase Bank, N.A., * HOUSTON, Jan.
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Adams Resources & Energy, Inc. to be Acquired by an Affiliate of Tres Energy LLC
Benzinga
NOVEMBER 12, 2024
(NYSE: AE ) ("Adams" or the "Company") announced today that it has entered into a definitive agreement to be acquired by an affiliate of Tres Energy LLC ("Buyer") in an all-cash transaction that values the Company at a total enterprise value (including bank debt and financial leases) of approximately $138.9
R1 RCM to be Acquired by TowerBrook and CD&R for $8.9 Billion
Benzinga
AUGUST 1, 2024
In addition, Deutsche Bank and Royal Bank of Canada have committed to provide financing for the transaction, and Deutsche Bank Securities, Inc. Kirkland & Ellis LLP is acting as legal counsel to the Company. Centerview Partners LLC is serving as lead financial advisor to TowerBrook and CD&R.
Building a Paving Powerhouse: Strategic Mergers for Enhanced Market Position and Value
Sun Acquisitions
JANUARY 26, 2024
By acquiring a paving business with complementary strengths and capabilities, companies can significantly increase their enterprise value. This article delves into the intricacies of strategic M&A within the paving sector, underscoring the synergies that bolster market positioning and business value.
Regency Centers Closes Acquisition of Urstadt Biddle Properties
Benzinga
AUGUST 18, 2023
The combined company has a total equity market capitalization of more than $11 billion and an enterprise value of more than $16 billion. Eastdil Secured and Deutsche Bank acted as financial advisors and Hogan Lovells US LLP has served as legal advisor to Urstadt Biddle. JACKSONVILLE, Fla.,
Zapp, a High Performance Two-Wheel Electric Vehicle Company, to Become Publicly Traded via Business Combination with CIIG Capital Partners II
Benzinga
NOVEMBER 22, 2022
Estimated Post-Transaction Enterprise Value of $573 Million with up to $274 Million in Net Cash to Fund Growth Assuming No Redemptions by CIIG II stockholders; No Minimum Cash Condition. Strategic Manufacturing Partnership with Summit Group Already in Place and at Start of Production. NEW YORK and LONDON, Nov. Transaction Overview.
Quanex Building Products to Acquire Tyman, Creating a Comprehensive Solutions Provider in the Building Products Industry
Benzinga
APRIL 21, 2024
billion 1 in enterprise value. The Acquisition is not subject to any financing contingency, with Quanex having attained fully committed financing from Wells Fargo Bank, N.A., Bank of America Securities and TD Bank. Tyman shareholders will also be entitled to receive the final dividend of 9.5
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M&A Valuation Methods: Your Essential Guide with 7 Key Methods
Valutico
MAY 6, 2024
Analysts use financial metrics and multiples such as Price to Earnings (P/E), Price to Book (P/B), Enterprise Value to Sales (EV/Sales), Enterprise Value to EBITDA (EV/EBITDA), and Price to Book (P/B) ratios derived from trading data of similar public companies or deal pricing data of similar M&A transactions.
Regency Centers to Acquire Urstadt Biddle Properties in All-Stock Transaction
Benzinga
MAY 18, 2023
("Urstadt Biddle" or "UBP") (NYSE: UBA ) today announced that the two companies have entered into a definitive merger agreement (the "Agreement") by which Regency will acquire Urstadt Biddle in an all-stock transaction, valued at approximately $1.4 billion, including the assumption of debt and preferred stock.
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How to Start a Private Equity Firm – and Why You Probably Shouldn’t
Brian DeChesare
OCTOBER 12, 2022
through merchant banking or angel investing ) and now want to do it full-time (also far less common). EXAMPLE: Let’s say you’re planning to have 10 portfolio companies in your first fund, and the average Purchase Enterprise Value will be $50 million. MD-level bankers who might have some investing experience (e.g.,
Methods of Business Valuation by Their Profitability
Equilest
MARCH 17, 2022
An example, however, makes it more transparent: Example: let's take a company without financial debts or cash, that is to say, without a loan or bank overdraft or a surplus bank account: it does not pay financial expenses. Typically, financial debts are therefore loans, credits, and overdrafts from banking establishments.
Northview Fund announces recapitalization transaction including the acquisition of three portfolios for $742 million and its intention to transform into Northview Residential REIT, a $2.7 billion, internally managed, traditional open-ended real estate investment trust focused on national multi-family properties
Benzinga
JUNE 12, 2023
Balance Sheet and Liquidity Strengthening: The Acquisitions are expected to deleverage and strengthen Northview's balance sheet, with debt to gross book value expected to decrease by approximately 500 basis points. The weighted average maturity of the REIT's mortgages is expected to increase from 2.6 years to 3.0 years to 3.0
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Good (Bad) Banks and Good (Bad) Investments: At the right price.
Musings on Markets
MAY 7, 2023
I also used the banking framework to argue that good banks have stickier deposits, with a higher precent of these deposits being non-interest bearing, that they invest in loans and investment securities on which they earn interest rates that cover and exceed the default risk in these investments. All Equity, All the time!
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Valuation Methods for Startups—The Easy Guide to Value a Startup
Valutico
OCTOBER 7, 2024
Market Multiple Method The Market Multiple Method involves valuing a startup by comparing it to similar companies (peers) and applying valuation multiples, such as the Enterprise Value/Revenue Multiples, or EV/EBITDA or EV/EBIT Multiples.
Venture Capital Interview Questions: What to Expect and How to Prepare
Brian DeChesare
SEPTEMBER 20, 2023
If you have an IB background, you should outline your deals by following the examples in the investment banking deal sheet article , and you should pick deals that are relevant to venture capital – a tech or healthcare IPO, a joint venture between two software companies, or something that required significant market analysis.
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The Post-Internship Shuffle: How to Switch Banks, Groups, or Locations
Brian DeChesare
AUGUST 3, 2022
As investment banking internships wind down each year, interns everywhere wake up and mysteriously come up with a similar idea: “I want to switch banks for my full-time role! Unfortunately, switching banks, groups, or locations after your internship is much easier said than done. Why Switch Banks?
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Data Update 1 for 2021: A (Data) Look Back at a Most Forgettable Year (2020)!
Musings on Markets
JANUARY 9, 2021
The second is that there are great (and free) sources for macro economic data, ranging from the Federal Reserve (FRED) to the World Bank and I don’t see the point of replicating something that they already do well.
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Industry (HBO): Could a TV Show About Investment Banking Be “One of the Best of the Decade?”
Brian DeChesare
OCTOBER 2, 2024
If you’re not familiar with it, the show follows several young graduates who start working in sales & trading and investment banking at JP Morgan Pierpoint & Co. half a yard” and “axes”), and in later seasons, they freely use terms like EBITDA and enterprise value vs. equity value. Many details are accurate (e.g.,
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