Chapter 10: Restructuring in Depth: M&A, LBOs, and More

In this section

• Deal Structures: Cash vs. Stock Transactions
  A comprehensive exploration of the differences between cash-based and stock-based M&A transactions, detailing their effects on ownership, control, tax implications, valuation, and risk-sharing for CFA Level II candidates.
• Leveraged Buyouts (LBOs) and Management Buyouts (MBOs)
  Explore LBO and MBO transactions, examining capital structures, key deal considerations, private equity sponsors, and management motivations, with insights on financing sources, debt ratios, IRR, and MOIC calculations.
• Modeling Restructuring Outcomes, Synergy Assessments
  Learn how to model post-merger restructuring outcomes, quantify synergy in a DCF framework, and apply sensitivity analyses for robust synergy assessments.
• Post-Merger Integration and Valuation Implications
  Explore how thoughtful integration planning, cultural alignment, synergy tracking, and strategic valuation adjustments can unlock the full potential of M&A transactions.
• Advanced Restructuring Vignette Drills
  Master advanced M&A, LBO, synergy, and integration with item-set style vignettes, focusing on synergy ramp-up, partial-year merges, convertible debt, and more complex deal structures.