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FINANCIAL MARKET COURSES

Corporate Valuation – Acquisition Comparables Analysis

Acquisition comparables analysis is a valuation technique used by finance practitioners and professionals when attempting to derive the relative value of a company based on precedent transactions in a given industry. In this course, you will learn how to perform the mechanics of acquisition comparables analysis. This includes determining the list of comparable precedent transactions, sourcing public information and calculating multiples and premiums. Additionally, you will analyze acquisition multiples and derive implied valuation ranges.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Describe the use of acquisition comparables in corporate valuation, including the criteria and methodology used in determining an acquisition comparables list

    Perform the mechanics of spreading acquisition comparables

    Undertake a premiums paid analysis

    Analyze acquisition multiples and impute appropriate valuation ranges

  • COURSE OUTLINE

    Topic 1: Overview of Acquisition Comparables

    What is Acquisition Comparables Analysis?

    Performing Acquisition Comparables Analysis

    Determining the Precedent Transactions

    Precedent Transactions – Questions & Complications

    Gathering Information

    Gathering Public Information

    Gathering Information on Private Target Companies

    Topic 2: Mechanics of Calculating an Acquisition Comparable

    Spreading of the Acquisition

    o Calculating Offer Value

    • Calculating Offer Value – An Example

    • Options

    o Calculating Transaction Value

    o Gathering Income Statement Information

    Complications with Acquisition Comparables

    Topic 3: Premiums Paid Analysis

    Calculating the Premium

    Unaffected Share Price

    Topic 4: Analysing Acquisition Multiples

    Analyzing Multiples

    Analyzing Multiples – Influences

    Analyzing – Synergies

    Analyzing Multiples – An Example Analyzing Multiples – EBITDA Multiple

    Imputing Valuation Ranges

    Imputing Valuation – An Example

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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