Courses / Mergers & Acquisitions (Standard) / Choice of Acquisition Currency Upgrade AccountYour current access is limited. To continue watching this lesson, you'll need to purchase a subscription. Sign UpChoice of Acquisition CurrencyCompanies don't always choose their currency based entirely on cost of capital or anticipated impact to accretion dilution. Executives often have to account for other financial constraints.DiscussionRestricted AccessYou need to sign up for a Lumovest subscription in order to join discussions. Sign UpRestricted AccessYou need to sign up for a Lumovest subscription in order to to download lesson materials. Sign UpMergers & Acquisitions (Standard) 1. What is Mergers & Acquisitions (M&A) (4:27) 2. Difference Between Mergers and Acquisitions (3:21) 3. Strategic Acquirers vs. Financial Sponsors (4:03) 4. Buyside M&A vs. Sellside M&A (1:30) 5. The Language of M&A (3:45) 6. Strategic Rationale (6:18) 7. Key Considerations in M&A (8:30) 8. M&A from Investor's Perspective (3:43) 9. Standalone vs. Pro Forma (2:03) 10. Pro Forma Financials (2:24) 11. Accretion / Dilution (Acc / Dil) (3:24) 12. How an M&A Model Works (4:18) 13. Chipotle and Wendy's M&A Case Study (1:37) 14. Modeling the Standalone Financials (5:35) 15. Modeling Acquirer and Target Valuation (9:30) 16. Acquisition Currency (4:09) 17. Acquisition Currencies' Cost of Capital (3:15) 18. Acquisition Currencies' Impact on Accretion Dilution (3:52) 19. Choice of Acquisition Currency (3:39) 20. Modeling Sources & Uses (8:43) 21. Modeling the Sum of Acquirer and Target Financials (7:15) 22. Transaction Adjustments (3:16) 23. Foregone Interest on Cash (1:57) 24. Incremental Interest Expense (1:58) 25. Issuance of New Shares (2:33) 26. Revenue Synergies (2:48) 27. Cost Synergies (2:15) 28. Cost to Achieve Synergies (2:17) 29. Amortization of Capitalized Financing Fees (2:13) 30. Incremental Depreciation & Amortization (4:41) 31. Modeling Transaction Adjustments (4:04) 32. Modeling Pro Forma Tax Rate (3:31) 33. Modeling Pro Forma Financials (2:57) 34. Modeling EPS Accretion / Dilution (2:22) 35. Drivers of EPS Accretion / Dilution (2:21) 36. Why Strategics Pay More than Sponsors (4:43) 37. Connecting Dots (4:20)
