1 The Value of Synergy Aswath Damodaran Stern School of Business October 2005 2 The Value of Synergy Many acquisitions and some large strategic investments are often justified with the argument that they will create synergy. In this paper, we consider the various sources of synergy and categorize them into operating and financial synergies. We then examine how best to value synergy in any investment and how sensitive this value is to different assumptions. We also look at how this synergy
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X6712 Class Times and Location: Section 1: Mondays, 9:00 – 12:00, TRS2-129 Section 2: Tuesdays, 15:00-18:00 TRS2-099 COURSE INFORMATION Pre-requisites: MKT100, MKT300 Posting of Grades and Feedback on Work: Grades on assignments and tests will be posted on the Blackboard site for the course. All assignments submitted for grading will be handed back within three weeks. E-mail Communication: Students must use the e-mail address listed above to communicate with the instructor. E-mails
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PART 1 Company Allocation Ticker symbol | Company | | GICS Sector | GICS Sub Industry | Address of Headquarters | | BEN | Franklin Resources | | Financials | Diversified Financial Services | San Mateo, California | | FCX | Freeport-McMoran Cp & Gld | | Materials | Diversified Metals & Mining | Phoenix, Arizona | | The cost of capital of the aforementioned companies will be discussed in the following questions. The companies will be referred to by their Ticker Symbols henceforth
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Assume an immediate and sustained one percent across-the-board rise in interest rates. Based on a review of Exhibit 3, discuss how one would use interest rate sensitivity gap information to estimate the impact of rising interest rates on the earnings of Norwest Corporation. If the interest rates are anticipated to increase by 1 percent then to reduce the impact on earnings the corporation must keep a Positive Gap. This means that the rate sensitive assets should be more than the rate sensitive liabilities
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A N N U A L R E PO RT 2 0 0 8 Message from the President Throughout its history in the home entertainment arena, Nintendo has created unique hardware and software as one integrated entertainment product, with software being the primary driver. Nintendo has focused its basic strategy on expanding the worldwide gaming audience. To achieve this, Nintendo is encouraging as many people as possible around the world, through its unique hardware and software offerings, to experience and enjoy video
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Bristol- Myers- Squibb Jessica Dodd Mr. David J. Lampi Principles of Management BUS-125 June 30, 2015 Bristol-Myers-Squibb Company Bristol-Myers-Squibb is located at headcourters is located at 345 Park Avenue, New York City, New York 10010. Their Chief executive officer is Mr. Lamberto Andreotti. The approximate number of employees are 25,000. Bristol-Myers-Squibb mission is to be the preeminent global diversified health and personal care Company. Bristol-Myers seeks to achieve
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STOCK VALUATION – Bank of America & JP Morgan Chase The 1997 Asian financial crisis made several economic concepts clear: (1) a nation's financial sector is a critical aspect of its macroeconomic stability; and (2) financial systems are important for maintaining order in the international financial sector. Some experts have stated that the 2014 outlook of the global economy is very positive. However, these same experts also clarified their statements, making it clear that risks are
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2009 annual report The DineEquity difference. differentiated brands. disciplined approach. dynamic leadership. dedication to being the best. Our commitment to differentiating the Applebee’s and IHOP brands drives everything we do. At DineEquity, we leverage the resources of the largest full-service restaurant company in the world with the agility to connect with guests on a local level. We are working harder than ever to energize the brands, optimize operations, expand our market share and
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Stock Price: $26.14 Industry: Health & Wellness Date: May 9, 2016 Buy Side Report (CMAM Immersion) Nutrisystem, Inc. (NTRI) Rating: BUY Price Target: $32 - 35 Market Cap: $786.64 M Stock Price: $26.14 Industry: Health & Wellness Date: May 9, 2016 Buy Side Report (CMAM Immersion) Contents Investment Rationale 1 Company Profile and History 2 Company Products 3 Industry Overview 4 Competitive Position 6 Growth Factors 7 Valuation and Comparable
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of prior period adjustments in the statement of cash flows Case 14: Measurement and recording of payments for sick days Case 15: Comparative cash flow statements Case 16: Social security benefits as assets Case 17: Recording a stock dividend as a stock split Case 18: Gain on a nonmonetary
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