Overview

Introduction to investment banking; Tools of valuation: analysing banks financial performance; Tools of valuation: comparable companies analysis; Tools of valuation: precedent transaction analysis; Tools of valuation: discounted cash flow analysis; Mergers and acquisitions; Leverage buyouts.

Learning Outcomes

• Analyse and critically discuss leverage buyouts. Students will have an understanding of the difference between M&As and LBOs as well as about the characteristics of a strong LBO candidate. They will be able to understand the macroeconomic factors driving recent trends in LBOs.

• Analyse and critically discuss mergers and acquisitions. Students will learn the reasons that motivate companies to merge, the different types of merge and the actors involved in M&As.

• Understand the activities of investment banks such as: underwriting, advisory, trading and brokerage and asset management.

• Use the three tools of valuation (comparable company analysis, precedent transaction analysis and discounted cash flow analysis) to evaluate banks and companies.