Courses / Mergers & Acquisitions (Standard) / Modeling Pro Forma Tax Rate Upgrade AccountYour current access is limited. To continue watching this lesson, you'll need to purchase a subscription. Sign UpModeling Pro Forma Tax RateIn this lesson, we'll model the pro forma effective tax rate for our Chipotle + Wendy's M&A case study.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)
