Title: Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions / Edition 2
Author: Joshua Rosenbaum, Joshua Pearl, Joseph R. Perella (Foreword by), Joshua Harris (Afterword)
ISBN-10: 1118656210
ISBN-13: 9781118656211
A timely update to the global best-selling book on investmentbanking and valuation In the constantly evolving world of finance, a solid technicalfoundation is an essential tool for success. Due to the fast-pacednature of this world, however, no one has been able to take thetime to properly codify the lifeblood of the corporate financier’swork—namely, valuation. Rosenbaum and Pearl have responded tothis need by writing the book that they wish had existed when theywere trying to break into Wall Street. Investment Banking: Valuation, Leveraged Buyouts, and Mergers& Acquisitions, Second Edition is a highly accessible andauthoritative book that focuses on the primary valuationmethodologies currently used on Wall Street—comparablecompanies, precedent transactions, DCF, and LBO analysis—aswell as M&A analysis. These methodologies are used to determinevaluation for public and private companies within the context ofM&A transactions, LBOs, IPOs, restructurings, and investmentdecisions. Using a step-by-step how-to approach for eachmethodology, the authors build a chronological knowledge base anddefine key terms, financial concepts, and processes throughout thebook. They also provide a comprehensive overview of thefundamentals of LBOs and an organized M&A sale process,including a data room index from Intralinks, as well as mergerconsequences analysis. In the aftermath of the subprime mortgage crisis and ensuingcredit crunch, the world of finance is returning to thefundamentals of valuation and critical due diligence for M&A,capital markets, and investment opportunities. This involves theuse of more realistic assumptions governing approach to risk aswell as a wide range of value drivers. While valuation has alwaysinvolved a great deal of “art” in addition to time-tested”science,” the artistry is perpetually evolving in accordance withmarket developments and conditions. As a result, Rosenbaum andPearl have updated the widely adopted first edition of their bookwith respect to both technical valuation fundamentals as well aspractical judgment skills and perspective. The authors have alsoadded a comprehensive and highly technical chapter on buy-sideM&A analysis. Furthermore, the authors address the importance of rigorousanalysis based on trusted and attributable data sources. In thisbook, they highlight several datasets and investment banking toolsfrom Bloomberg, a leading provider of business and financial data,news, research, and analytics.
