M&A Case Interview SCHOOL OF MANAGEMENT Case Preparation Bootcamp

M&A CASE TYPES - MATH What are the factors to consider when performing a valuation of a potential target company? What is the valuation of the company? What is the value of the synergies (usually components provided)? Which synergies are likely to be realized and why? Which are not? What is the final likely realization rate? Given current market conditions (as defined in the case), how / where will the newly merged company be better positioned than the two separate companies? The technical questions are for those people who have fairly extensive experience doing this sort of thing and they are testing competence of a skill set they are looking for.

M&A CASE TYPES - STRATEGY Strategic questions have more to do with why, where and when of a merger / divestiture. The divestiture cases are usually more interesting (and popular) because it forces you to take your merger knowledge and apply it in a different fashion. Some people have trouble making that leap.

M&A SITUATION ANALYSIS ProductCompanyCompetitorCustomer Company A Company B Combined

M&A CONSIDERATIONS What factors would you consider when deciding whether or not to buy or grow internally? Based on those factors and your knowledge of the case, which seems like a better option at this point? Support your answer with case facts and general knowledge of the current market (usually general enough that anyone can pull in facts assuming you're paying attention to business news.) Lets assume you've decided to acquire rather than grow internally - given the data of the case, where might this pose a problem? Where would you recommend the company look for acquisition targets? (a data sheet would be provided). Talk through the cultural matches / mismatches of the two companies looking to merge. What are the impacts of these differences? Given the company's current financial situation, support your recommendation.