you will construct a document that will give the background to a bid, a valuation of the target company, the offer presentation and arguments from the bidder (Tesco PLC), the defense arguments from the target company (Halfords Group PLC the UK retailer of motoring and cycling products and services. ), a regulatory appraisal of the bid, and a summation of the chances of the bid succeeding. An important part of the M&A process is selecting attractive merger candidates. Thus, in the first part of your assignment, pretend that you work for the M&A department of an investment bank and you would like to earn a commission on an M&A transaction. Select a potential  bidder company and attractive target for that bidder. Your bids will be fictitious, but you should proceed as if they were real bids. To facilitate the valuation process, it is recommended that both companies are based in the UK and publicly listed with financial data. Also keep in mind that a regulatory appraisal will need to be made, so you may wish to choose combinations likely to be reviewed by regulatory authorities. It is OK if you find that what initially looked like attractive merger candidates turned out not to be after closer inspection.

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity
Section: Chapter Questions
Problem 31RQSC
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you will construct a document that will give the background to a bid, a valuation of the target company, the offer presentation and arguments from the bidder (Tesco PLC), the defense arguments from the target company (Halfords Group PLC the UK retailer of motoring and cycling products and services. ), a regulatory appraisal of the bid, and a summation of the chances of the bid succeeding.

An important part of the M&A process is selecting attractive merger candidates. Thus, in the first part of your assignment, pretend that you work for the M&A department of an investment bank and you would like to earn a commission on an M&A transaction. Select a potential  bidder company and attractive target for that bidder. Your bids will be fictitious, but you should proceed as if they were real bids. To facilitate the valuation process, it is recommended that both companies are based in the UK and publicly listed with financial data.

Also keep in mind that a regulatory appraisal will need to be made, so you may wish to choose combinations likely to be reviewed by regulatory authorities. It is OK if you find that what initially looked like attractive merger candidates turned out not to be after closer inspection.

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