LEVERAGED BUYOUTS: A PRACTICAL INTRODUCTORY GUIDE TO LBOS

Book ID/图书代码： 05930012B58077

English Summary/英文概要： Leveraged buyouts (LBOs) are innovative and sometimes controversial

transactions. Loading a target company with the debt used to acquire it

requires careful judgement, and getting the balance right between debt-load

and future performance can be a demanding challenge. The financial analyst’s

role therefore sits at the heart of a successful leveraged buyout. It is his

or her analysis of a target company and a prospective LBO which lays the

foundation for a viable deal - or alerts parties to potential problems.

This book assists financial analysts by explaining both the principles

involved in leveraged buyouts, as well as detailing the ins and outs of

putting together an industry-standard LBO analysis. Written by financial expert David Pilger, in lucid and accessible English it

takes readers through:- the purpose, advantages, risks and outcomes of LBOs - the typical players in an LBO deal - step-by-step instructions on building an LBO analysis in Excel: from sources of funds, through income statements, cost structure, interest, EBITDA, cash flow, debt paydown and returns.

Eminently practical and authoritative, this is an indispensable guide for any finance professional or student looking to master a vital area of modern finance. By understanding the techniques and principles underlying LBO analysis, and by working through the model in this book, readers will acquire a deeper understanding of the LBO investor’s perspective - and be able to use these techniques as a practitioner in the financial industry.

Chinese Summary/中文概要： 杠杆收购(LBOs)是创新的和有时又备受争议的交易。加载目标公司的债务用于兼并，它需要仔细的判断,正确平衡公司的债务负担和未来的业绩两者之间的关系是一个很艰难的挑战。因此金融分析师的角色就是一个杠杆收购成功的关键。这是他或她对目标公司的分析和一个预期的杠杆收购，它为一个可行的交易奠定基础,或对潜在的问题发出警告。这本书通过解释杠杆收购涉及的原则同时详述组建一个行业标准的杠杆收购的分析来帮助金融分析师。由金融专家大卫•皮尔格撰写，用清晰和易懂的英语带领读者理解杠杆收购的目的、优势、风险和结果。这些都是杠杆收购行为中典型的要素。逐步介绍在Excel中构建一个杠杆收购的分析流程:从资金来源,到收入报表、成本结构、利率、税息折旧及摊销前利润、现金流量、债务偿还和收益。突出的实用性和权威性,这本书对于任何想掌握现代金融界一个关键领域的金融专业人士或学生都是一个不可或缺的指南。通过理解杠杆收购的基本技术和原理,并通过本书中的模型,读者将从投资者的角度对杠杆收购有更深的理解,并能够使用这些技术成为金融行业的从业者。(LNL)

Awards/获奖情况：

About the Author/作者介绍： 大卫•皮尔格是 Flex Banker LLC公司的创始人和校长，这家咨询公司专门为高新技术企业提供企业融资和筹资建议。 Flex Banker公司侧重于教育、ag科学、替代能源和制造业/工业行业以及金融部门。除了新兴公司提供咨询,他还曾是大型机构客户如高盛、摩根士丹利、百事可乐等等的顾问。

大卫在顶级金融机构讲授公司估值和金融建模和培训金融行业专业人士，如Paulson & Co,巴克莱银行和其他主要金融机构,在蓝筹股职业做顾问。

大卫之前在Flex Banker工作,在高盛专攻高级银行债务。他负责约20亿美元的公司银行贷款结构化交易和衍生品投资组合。在加入高盛前,他曾在美林投资银行业务和日本东京的新生银行工作,专注于金融机构部门的咨询和并购。

大卫弗吉尼亚大学研究金融学,获得商业学士学位。从弗吉尼亚大学毕业后,他进入了普林斯顿大学,学习日语,后来在日本东京的Jouchi大学学习高级日语。David Pilger is a founder and principal at Flex Banker LLC, a corporate

advisory firm focused on providing corporate finance and capital raising

advice to growing companies with innovative technologies. Flex Banker

focuses on education, Ag-science, alternative energy, and manufacturing/industrial sectors as well as the financial sector. In addition to advising emerging growth companies with game-changing technology, he has been a consultant or advisor to large institutional clients such as Goldman Sachs, Morgan Stanley, and Pepsico to name a few.

David teaches corporate valuation and financial modeling and trains financial industry professionals at top financial institutions such as Paulson & Co., Barclays Capital, and other leading financial institutions at Blue Chip Career advisors.

Prior to working at Flex Banker, David specialised in senior bank debt at Goldman, Sachs & Co. He oversaw approximately $2 billion in the firm’s bank loan structured trading and derivative portfolios. Before joining Goldman Sachs, he worked in investment banking at Merrill Lynch and Shinsei Bank in Tokyo, Japan, focusing on corporate advisory and M&A within the financial institutions sector.

David studied finance at the University of Virginia, earning a B.S. in Commerce. Upon graduating from the University of Virginia, he entered Princeton University, studying Japanese, and later went on to study advanced Japanese at Jouchi University in Tokyo, Japan.

Format:

Rights Status/版权销售情况：Simplified Chinese/简体中文：AVAILABLE(到期可授)

Complex/Traditional Chinese/繁体中文：AVAILABLE

Sales in other countries/其他国家销售情况：

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