Valuation for Mergers, Buyouts, and Eestructuring

Enrique R. Arzac is Professor of Finance and Economics at the Columbia University Graduate School of Business, Director of the Merger, Buyouts, and Restructuring program for executives at Columbia Business School, and Co-Director of the Merger and Acquisitions program for executives at London Business School. He is the author of many academic articles in financial economics and has been consultant to corporations and financial institutions in North and South America and Europe. He is a director of the Adams Express Company, Petroleum and Resources Corporation and Credit Suisse Asset Management funds.

PART ONE: THE TOOLS OF VALUATION.1. A User's Guide.2. Forecasting and Valuation of Free Cash Flows.3. The Equity Premium and the Cost of Capital.4. Metrics and Multiples.5. Economic Value Added.6. Valuation with Changing Capital Structure.7. Debt Capacity for Acquisition Financing.8. Valuing Entry and Exit Options.PART TWO: MERGERS, ACQUISITIONS AND BUYOUTS.9. Merger and Acquisitions.10. Deal Making with Differences of Opinion.11. Special Offer Structures: Price Guarantees and Collars.12. Acquisitions in Developed and Emerging Markets.13. Leveraged Buyouts.PART THREE: RECAPITALIZATIONS AND RESTRUCTURING.14. Recapitalization of Troubled Companies.15. Asset Restructuring.Appendix A: Financial Options.Appendix B: Valuation Aids Software.Appendix C: Modeling Mergers and Buyouts with DealModelerTM: User's Manual.Technical Notes.References.Index.