Q2 2020 Canadian M&A Roundup

Mergers & Acquisitions

by Rares - July 27, 20200

As the COVID-19 pandemic continues to impact global markets, some firms are looking at an opportune time to buy distressed firms. Whether that be those that are unable to pay their large fixed costs or those suffering from a large drop in demand, many troubled firms will soon be bought

Credit Analyst / Commercial Banking Interview Questions

Commercial Banking

by Matt - July 25, 2020July 25, 20200

Also check out corporate banking interview questions For fixed income analyst jobs check out fixed income analyst interview questions How do you calculate leverage? Debt divided by EBITDA. Net leverage is net debt divided by EBITDA. There are multiple permutations of this and they will usually be some variant of operating cash flows. How

Q2 2020 US M&A Roundup

Mergers & Acquisitions

by Richie - July 16, 2020July 23, 20200

In Q2 2020, global M&A activity fell to levels that rivaled the aftermath of the great financial crisis hitting just $439 billion. On a YoY basis, American M&A activity took the biggest hit with aggregate deal value totalling only $258 billion. This was a decline of 69% from Q2 2019

Q1 2020 Canadian M&A Roundup

Mergers & Acquisitions

by Rares - June 23, 2020June 23, 20200

As the COVID-19 pandemic swept across the world in Q1 2020, volatility in the markets increased, which affected M&A deal flows. While the beginning of Q1 was relatively normal, the tail end of the quarter saw shutdowns across the world. The impact of these shutdowns will likely not be fully

Introduction to Fairness Opinions

Investment Banking

by Chayten Hansra - June 15, 20200

What is a fairness opinion? A fairness opinion evaluates the financial fairness of the price an acquirer is offering a target during a transaction seeking to take control of the target (acquisition, takeover, merger, etc.). [i] A fairness opinion may also be used when a public company is divesting one of

Finance Jobs Other Than Investment Banking

by Matt - May 27, 2020May 27, 20200

There are no jobs in finance other than investment banking. jk Most people who get a finance degree do not end up becoming investment bankers, despite practically everyone putting it down as their first choice. Many students make the mistake of going investment banking or bust and never realize that they never wanted

Investment Banking Fee Study

Investment Banking

by Matt - May 26, 20200

Fee Event Dramatization MegaBank A is approached by a client to help them advise on a purchase of their competitor funded by a mix of debt and externally issued equity. My god, this will be a $50 billion dollar deal. 10 basis points means a $50 million dollar fee! – Coverage/M&A banker They

Capital Structure of an LBO

Private Equity

by Bocconi Students PE Club - May 13, 2020May 13, 20200

First published on the BSPE blog By Dorina Barna and Boris Mihaylov LBO stands for Leveraged Buyout and refers to the purchase of a company while using a significant amount of debt to finance the transaction. Usually, the assets of the company being acquired and sometimes those of the acquiring company are

Reverse Merger – A true alternative to an IPO?

Private Equity

by Bocconi Students PE Club - April 29, 20200

First published on the BSPE blog By Nikolas Huber and Luca Politi Introduction Almost everyone, even when only distantly connected to the topic of shares and stock, has heard about IPOs. Summarized an IPO is a process for a private company to become a public one. But not every private company that wants to

The difficulty of identifying value in uncertain markets

Private Equity

by Kings Private Equity Club - April 28, 20200

Writer: Oskar Pulkkinen Setting the scene The past few months have seen markets in an uproar, with volatility and risk becoming inescapable realities. Investors are scrambling to profit off of perplexing market movements, dreaming of victories like Bill Ackman’s 2.6 billion CDS hedge. Meanwhile, private equity seemingly stands as a bulwark of