Quote:
Originally Posted by Unregistered
Here goes. Take notes alright, wannabe IBD.
The M&A division typically focuses on cash/stock-based acquisitions. LBO models are primarily (and almost exclusively) referring to PE transactions as it typically involves a huge amount of leverage (this is covered by the Sponsors/LevFin groups depending on the type of transaction).
Pro-forma essentially means an estimate of how the end-product (either a merger or an acquisition) would look like on paper. Pro-forma BS is definitely needed for M&A modelling, but clients sometimes wish to see the combined forecasted IS and CFS as well. Thus, when you went from a S&T banker to an M&A Banker, it’s extremely funny for you to think that LBO modelling is your core deliverable and only LBOs require pro-forma modelling rofl
Have fun in Big 4 alright, & stop acting like you’re in BB FO. It’s really, really embarrassing. |
Well, the dude is not entirely wrong. For e.g. Deutsche Bank has a general pool of bankers who do levfin/ M&A transactions. Nobody calls it pro forma modelling btw - it's typically called merger or M&A models. And in M&A, as an analyst, you're mainly churning pitchbooks, buyer lists, comps, financial models. But hey, all that for 10-12k? Sure.