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J.P. Morgan M&A Reference Manual 

J.P. Morgan M&A Reference Manual

This “M&A bible” is meant to serve as a training guide for newcomers to M&A, as well as a technical reference manual for experienced (and not so experienced) M&A practitioners. It incorporates what a number of people in M&A believe to be essential or useful basic knowledge to perform the tasks required in the daily routine of the strategic advisory business. As the financial, legal and tax environment in which the M&A Group operates is forever changing, periodic updates of this publication are intended. As such, any suggestions for improvement would be appreciated. Please direct your comments for improvement, but not your requests for copies of the book, to Eileen Smith at (77)6-8305. An online version of the book is available to Investment Banking professionals on the IB M&A Research database in Lotus Notes or through IB Today. The book is confidential, proprietary and the sole property of J.P. Morgan and should not be passed along to colleagues outside of Investment Banking or to people at competitor firms.

Copyright © 1997 Morgan Guaranty Trust Company of New York. All rights reserved.

June 1998

82890cl6

J.P. Morgan M&A Reference Manual 

Contents
Valuation methodologies overview ............................................................... 1 Advantages and disadvantages ........................................................................ 1 Comparable company trading analysis ....................................................... 6 Selected trading statistics explained ................................................................ 8 Selected operating statistics explained............................................................. 13 Typical data problems ...................................................................................... 17 Summary of inputs and outputs...

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