Part. Valuations. Introduction to valuations -- Discounted Cash Flow (DCF) valuations (no debt) -- DCF valuations (debt in capital structure) -- Earnings-based valuations -- Other valuation methods -- Private company valuations -- Discounts and premiums -- Challenging issues in DCF valuations -- Valuation challenges in certain businesses -- Reasonability checks and sensitivity analysis -- Valuing debt instruments and options -- Concluding thoughts on valuations -- Part 2. Mergers and acquisitions. Why consider mergers and acquisitions as part of your growth strategy? -- Pricing the deal -- Managing risk: Do you really understand the business you are buying? -- Effective deal structuring and funding -- Learning the rules of the game: Regulatory requirements that govern M&A transactions -- Fairness opinions required by the JSE and the TRP -- Accounting for the transaction (IFRS 3) -- Post-merger integration: Do not lose sight of the value you have just created.

Valuations, mergers and acquisitions deals with the valuation of businesses for the purpose of mergers and acquisitions transactions, shareholder exits, capital raising and initial public offerings and covers the key principles involved in valuing businesses as going concerns. Features: Critical thinking boxes commenting on the consequences of market events or the actions of specific companies which help students to get to grips with the uncertainties and complexities of valuations ; The gaps between financial regulations and actual business practices are highlighted, such as IFRS 3 in Chapter 19 ; A variety of end-of-chapter and self-assessment questions and tasks allows readers to apply what they are learning as well as to develop their professional confidence.