Valuation, Market Screening Application, Opportunities in Europe
Buch, Englisch, 108 Seiten, Format (B × H): 148 mm x 210 mm, Gewicht: 177 g
ISBN: 978-3-8244-7758-6
Verlag: Deutscher Universitätsverlag
companies has been in a fundamental decline. This has led to an interesting
question: Do the post-bubble valuation levels provide ground to a concept
rarely seen in this sector: leveraged and management buyouts?
The book examines:
Why buyouts of technology companies have hardly taken place in the past,
and why this is changing
How the attractiveness of a buyout can be estimated
What makes analyzing technology buyouts different from traditional
companies
Why there might be buyout opportunities among European technology
companies
The author provides a free Microsoft Excel based model on an accompanying
web site that allows the screening of major technology indices, using a
fully adjustable scoring application to identify attractive buyout targets.
This book is a must read for anybody in the mergers & acquisitions,
technology, and private equity business.
Zielgruppe
Research
Autoren/Hrsg.
Fachgebiete
Weitere Infos & Material
1 Introduction.- 1.1 Theoretical Formulation.- 1.2 Method and Procedures.- 2 The Market for Leveraged and Management Buyouts.- 2.1 Definitions.- 2.2 History.- 2.2 Value Generation.- 3 The Emergence of Technology Buyouts.- 3.1 Definition of a Technology Company.- 3.1 Investment Rationale.- 3.2 Technology Buyout Investors.- 3.2 Current Trends.- 3.3 Findings and Interpretations.- 4 Overview of Leveraged Buyout Valuation.- 4.1 Weighted Average Cost of Capital Method.- 4.2 Adjusted Present Value Method.- 4.3 Changing Costs of Capital Method.- 4.4 Equity Cash Flow Method and Internal Rate of Return.- 5 Simplified Valuation Model.- 5.1 Inputs.- 5.2 Leverage.- 5.3 Projections.- 5.4 Valuation.- 5.5 Special Cases.- 5.6 Model Limitations.- 6 Adjusting for Technology Risk and Return.- 6.1 Technology Risk.- 6.2 Technology Return.- 6.3 Implications.- 7 European Technology Market Screening.- 7.1 Model Extension.- 7.2 Model Application.- 7.1 Top European Technology Buyout Candidates.- 7.2 Findings and Interpretation.- 7.3 Suggestions for Further Research.- 8 Summary and Conclusion.- References.- List of Appendixes.- Appendix A: Field Description Sheet.- Appendix B: Excel Instructions.
