Investment Banking

Valuation, Leveraged Buyouts, and Mergers & Acquisitions

Precedent Transactions Analysis - Template

JOSHUA ROSENBAUM JOSHUA PEARL

($ in millions)

List of Comparable Acquisitions

Date Announced Acquirer Target Transaction Type Target Business Description Equity Value Enterprise Value LTM Sales

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

1/0/1900

Acquirer

Target

NA

[to come]

ValueCo Corporation
Precedent Transactions Analysis
($ in millions)

Enterprise Value / Date Announced 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 Acquirer Acquirer Acquirer Acquirer Acquirer Acquirer Acquirer Acquirer Acquirer Acquirer Acquirer Target Target Target Target Target Target Target Target Target Target Target Transaction Type NA NA NA NA NA NA NA NA NA NA Purchase Consideration NA NA NA NA NA NA NA NA NA NA Equity Value Enterprise Value LTM Sales NA NA NA NA NA NA NA NA NA NA LTM EBITDA NA NA NA NA NA NA NA NA NA NA LTM EBIT NA NA NA NA NA NA NA NA NA NA

LTM EBITDA Margin NA NA NA NA NA NA NA NA NA NA

Equity Value / LTM Net Income NA NA NA NA NA NA NA NA NA NA

Premiums Paid Days Prior to Unaffected 1 7 30 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA

Mean Median High Low

Source: Company filings

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0.0x 0.0x

NA NA 0% 0%

NA NA 0.0x 0.0x

NA NA NA NA 0% 0%

NA NA 0% 0%

NA NA 0% 0%

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

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($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Acquisition of Target by Acquirer

Input Page
($ in millions, except per share data)

General Information Target Ticker Fiscal Year Ending Marginal Tax Rate Acquirer Ticker Fiscal Year Ending Date Announced Date Effective Transaction Type Purchase Consideration Calculation of Equity and Enterprise Value Offer Price per Share Cash Offer Price per Share Stock Offer Price per Share Exchange Ratio Acquirer Share Price Offer Price per Share Fully Diluted Shares Outstanding Implied Equity Value Implied Enterprise Value Plus: Total Debt Plus: Preferred Stock Plus: Noncontrolling Interest Less: Cash and Cash Equivalents Implied Enterprise Value LTM Transaction Multiples EV/Sales Metric EV/EBITDA Metric EV/EBIT Metric P/E Metric Premiums Paid Transaction Announcement 1 Day Prior Unaffected Share Price 1 Day Prior 7 Days Prior 30 Days Prior Source Documents Target 10-K Target 10-Q Target 8-K Target DEFM14A Acquirer 424B Acquirer 8-K Period 1/0/1900 1/0/1900 Date Filed 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 1/0/1900 NA NA NA NA Target TRGT Jan-00 Acquirer ACQR Jan-00 1/0/1900 1/0/1900 NA NA

Reported Income Statement FYE 1/0/1900 Sales COGS Gross Profit SG&A Other Expense / (Income) EBIT Interest Expense Pre-tax Income Income Taxes Noncontrolling Interest Preferred Dividends Net Income Effective Tax Rate Weighted Avg. Diluted Shares Diluted EPS Adjusted Income Statement Reported Gross Profit Non-recurring Items in COGS Adjusted Gross Profit % margin Reported EBIT Non-recurring Items in COGS Other Non-recurring Items Adjusted EBIT % margin Depreciation & Amortization Adjusted EBITDA % margin Reported Net Income Non-recurring Items in COGS Other Non-recurring Items Non-operating Non-rec. Items Tax Adjustment Adjusted Net Income % margin Adjusted Diluted EPS Cash Flow Statement Data Depreciation & Amortization % sales Capital Expenditures % sales Notes (1) (2) (3) (4) (5) [to come] [to come] [to come] [to come] [to come] NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA Prior Stub 1/0/1900 NA NA Current Stub 1/0/1900 NA NA LTM 1/0/1900 NA NA

Target Description [to come]

Acquirer Description [to come]

Comments [to come]

Calculation of Fully Diluted Shares Outstanding Basic Shares Outstanding Plus: Shares from In-the-Money Options Less: Shares Repurchased from Option Proceeds Net New Shares from Options Plus: Shares from Convertible Securities Fully Diluted Shares Outstanding Options/Warrants Tranche Batch 1 Batch 2 Batch 3 Batch 4 Batch 5 Total Number of Shares Exercise Price In-the-Money Shares Proceeds -

Convertible Securities Amount Issue 1 Issue 2 Issue 3 Issue 4 Issue 5 Total Conversion Price Conversion Ratio New Shares -

Premium NA NA NA NA

Copyright 2009 by Joshua Rosenbaum and Joshua Pearl. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com.

Library of Congress Cataloging-in-Publication Data:

ISBN-13 978-0-470-44220-3 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1