precedent transactions

Investment BankingValuation, Leveraged Buyouts,

and Mergers & Acquisitions

Precedent Transactions Analysis - Template

JOSHUA ROSENBAUMJOSHUA PEARL

($ in millions)

List of Comparable AcquisitionsDate Transaction Equity Enterprise LTM

Announced Acquirer Target Type Target Business Description Value Value Sales

12/30/1899 Acquirer Target NA [to come] - - -

ValueCo CorporationPrecedent Transactions Analysis($ in millions)

Enterprise Value / LTM Equity Value / Premiums Paid

Date Transaction Purchase Equity Enterprise LTM LTM LTM EBITDA LTM Days Prior to Unaffected

Announced Acquirer Target Type Consideration Value Value Sales EBITDA EBIT Margin Net Income 1 7 30

12/30/1899 Acquirer Target NA NA - - NA NA NA NA NA NA NA NA

Mean NA NA NA NA NA N NA NA NAMedian NA NA NA NA NA N NA NA NA

High 0.0x 0.0x 0.0x 0% 0.0x 0% 0% 0%Low 0.0x 0.0x 0.0x 0% 0.0x 0% 0% 0%

Source: Company filings

Acquisition of Target by AcquirerInput Page($ in millions, except per share data)

General Information Reported Income Statement Target DescriptionTarget Target Prior Current [to come] Ticker TRGT FYE Stub Stub LTM

Fiscal Year Ending Dec-30 12/30/1899 12/30/1899 12/30/1899 12/30/1899 Marginal Tax Rate - Sales - - - -

COGS - - - - Acquirer Acquirer Gross Profit - - - - Ticker ACQR SG&A - - - -

Fiscal Year Ending Dec-30 Other Expense / (Income) - - - - Acquirer Description EBIT - - - - [to come]

Date Announced 12/30/1899 Interest Expense - - - - Date Effective 12/30/1899 Pre-tax Income - - - - Transaction Type NA Income Taxes - - - - Purchase Consideration NA Noncontrolling Interest - - - -

Preferred Dividends - - - -

Calculation of Equity and Enterprise Value Net Income - - - -

Offer Price per Share Effective Tax Rate NA NA NA NA CommentsCash Offer Price per Share - [to come]Stock Offer Price per Share - Weighted Avg. Diluted Shares - - - -

Exchange Ratio - Diluted EPS NA NA NA NA

Acquirer Share Price -

Offer Price per Share - Adjusted Income StatementReported Gross Profit - - - -

Fully Diluted Shares Outstanding - Non-recurring Items in COGS - - - -

Implied Equity Value - Adjusted Gross Profit - - - - Calculation of Fully Diluted Shares Outstanding % margin NA NA NA NA Basic Shares Outstanding -

Implied Enterprise Value Plus: Shares from In-the-Money Options -

Plus: Total Debt - Reported EBIT - - - - Less: Shares Repurchased from Option Proceeds - Plus: Preferred Stock - Non-recurring Items in COGS - - - - Net New Shares from Options -

Plus: Noncontrolling Interest - Other Non-recurring Items - - - - Plus: Shares from Convertible Securities -

Less: Cash and Cash Equivalents - Adjusted EBIT - - - - Fully Diluted Shares Outstanding -

Implied Enterprise Value - % margin NA NA NA NA

Options/Warrants

LTM Transaction Multiples Depreciation & Amortization - - - - Number of Exercise In-the-Money

EV/Sales NA Adjusted EBITDA - - - - Tranche Shares Price Shares Proceeds Metric - % margin NA NA NA NA Batch 1 - - - - EV/EBITDA NA Batch 2 - - - - Metric - Reported Net Income - - - - Batch 3 - - - - EV/EBIT NA Non-recurring Items in COGS - - - - Batch 4 - - - -

Metric - Other Non-recurring Items - - - - Batch 5 - - - - P/E NA Non-operating Non-rec. Items - - - - Total - - -

Metric - Tax Adjustment - - - -

Adjusted Net Income - - - - Convertible Securities

Premiums Paid % margin NA NA NA NA Conversion Conversion New

Transaction Announcement Premium Amount Price Ratio Shares1 Day Prior - NA Adjusted Diluted EPS - - - - Issue 1 - - - -

Unaffected Share Price Issue 2 - - - -

1 Day Prior - NA Cash Flow Statement Data Issue 3 - - - - 7 Days Prior - NA Depreciation & Amortization - - - - Issue 4 - - - -

30 Days Prior - NA % sales NA NA NA NA Issue 5 - - - -

Capital Expenditures - - - - Total -

Source Documents % sales NA NA NA NA

Period Date Filed

Target 10-K 12/30/1899 12/30/1899 NotesTarget 10-Q 12/30/1899 12/30/1899 (1) [to come]Target 8-K 12/30/1899 (2) [to come]

Target DEFM14A 12/30/1899 (3) [to come]Acquirer 424B 12/30/1899 (4) [to come]Acquirer 8-K 12/30/1899 (5) [to come]

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

Options/Warrants

Period Date Filed

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ISBN-13 978-0-470-44220-3Printed in the United States of America10 9 8 7 6 5 4 3 2 1

precedent transactions

Documents

option proceeds net

john wiley

money shares proceeds

shares exercise price

offer price

united states

acquirerinput page

noncontrolling interest