February 2010
Intermediate to advanced
592 pages
19h 56m
English
Content preview from Investment Banks, Hedge Funds, and Private Equity
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17
LBO Financial Model
The material in this chapter should be cross-referenced with Case Study 9, “The Toys ‘R’ Us LBO.”
As previously discussed, targets for LBO transactions are typically companies in mature industries that have stable and growing cash flow that can be used to service large debt obligations and, potentially, pay dividends to the financial buyers. In addition, targets usually have low capital expenditures, low leverage, and assets that can be sold. Financial buyers generally target an exit event within 3 to 7 years, which is usually accomplished through either an IPO or M&A sale to a strategic buyer or, sometimes, to another financial buyer. Financial buyers have historically targeted an IRR on their investments of above 20%. ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.