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Investment Banking Presentations

The following are our collection of actual M&A analysis & presentations done by investment banks for various transactions. For the curious minds, you can learn from these M&A analysis and get a sense of how things are actually done in banking. At the very least, you can see the different banks’ presentation formats and the font sizes & color schemes that you’ll need to adhere to at 3am in the morning.

Investment Banking Presentations

The following are our collection of actual M&A analysis & presentations done by investment banks for various transactions. For the curious minds, you can learn from these M&A analysis and get a sense of how things are actually done in banking. At the very least, you can see the different banks’ presentation formats and the font sizes & color schemes that you’ll need to adhere to at 3am in the morning.

Bank of America Merrill Lynch (BAML)

Sale of Pike Corporation to Court Square Capital Partners (LBO)

BAML served as sell-side M&A advisor to Pike Corporation. The business was acquired and taken-private by private equity firm Court Square.

BAML Presentation to Pike Corporation (22-Mar-2014)

BAML Presentation to Pike Corporation (28-Mar-2014)

BAML Presentation to Pike Corporation (30-Apr-2014)

BAML Presentation to Pike Corporation (07-Jul-2014)

BAML Presentation to Pike Corporation (03-Aug-2014)

 

Sale of Cole Kenneth Productions to Kenneth Cole

BAML served as sell-side M&A advisor to Cole Kenneth Productions’ Special Committee. The business was acquired by its CEO and Chairman.

BAML Presentation to Cole Kenneth Productions (22-May-2012)

BAML Presentation to Cole Kenneth Productions (05-Jun-2012)

 

Acquisition of Pepsi Bottling Group and Pepsi Americas

BAML served as buy-side M&A advisor to PepsiCo in its efforts to acquire the equity stake it didn’t own in Pepsi Bottling Group and Pepsi Americas.

BAML Presentation to PepsiCo (03-Aug-2009)

Barclays

Kinder Morgan Acquisition of El Paso Pipeline Partners

Barclays served as buy-side advisor to Kinder Morgan on its acquisition of El Paso Pipeline. KMI = Kinder Morgan. KMP = Kinder Morgan Energy Partners. KMR = Kinder Morgan Management. EPB = El Paso Pipeline. You can find more background information here.

Barclays Presentation to Kinder Morgan (16-Jul-2014)

Barclays Fairness Presentation to Kinder Morgan (09-Aug-2014)

Centerview Partners
Citigroup

Take-Private of Trina Solar

Citigroup served as sell-side M&A advisor to Trina Solar in connection to the sale of the business to a buyer Consortium, consisting of its own CEO and Chinese PE firms.

Citi Presentation to Trina Solar Special Committee (01-Aug-2016)

 

Kinder Morgan Acquisition of El Paso Pipeline Partners

Citi served as buy-side advisor to Kinder Morgan on its acquisition of El Paso Pipeline. KMI = Kinder Morgan. KMP = Kinder Morgan Energy Partners. KMR = Kinder Morgan Management. EPB = El Paso Pipeline. You can find more background information here.

Citi Presentation to Kinder Morgan (16-Jul-2014)

Credit Suisse

McMoRan Merger with Freeport to Create Freeport-McMoRan

Credit Suisse served as M&A advisor to McMoRan in the evaluation of McMoRan’s merger with Freeport to create Freeport-McMoRan. CS codenamed McMoRan as “Maine” and Freeport as “Florida”. The following presentations by CS were created for McMoRan’s Board. You can see the thought process behind how CS analyzed the proposed merger.

Credit Suisse Presentation to McMoRan Exploration (26-Nov-2012)

Credit Suisse Presentation to McMoRan Exploration (29-Nov-2012)

Credit Suisse Presentation to McMoRan Exploration (03-Dec-2012)

 

Sale of SunGard to Silver Lake Partners

Credit Suisse served as sell-side M&A advisor to Sungard to evaluate Silver Lake’s proposal to LBO the business. Silver Lake was codenamed “Saturn” and SunGard was codenamed “Solar”.

Credit Suisse Presentation to SunGard (14-Dec-2004)

Credit Suisse Presentation to SunGard (01-Feb-2005)

Credit Suisse Presentation to SunGard (22-Mar-2005)

Credit Suisse Presentation to SunGard (27-Mar-2005)

Deutsche Bank

Management Buyout of Dole Foods

Deutsche Bank served as sell-side M&A advisor to Dole Foods’ Special Committee in its assessment of the management buyout of the company by its CEO, David H. Murdock (DHM). Dole Foods was codenamed “Dawn”.

Deutsche Bank Presentation to Dole Foods (02-May-2013)

Deutsche Bank Presentation to Dole Foods (21-May-2013)

Deutsche Bank Presentation to Dole Foods (24-Jun-2013) – Main Deck

Deutsche Bank Presentation to Dole Foods (15-Jul-2013)

Duff & Phelps
Evercore Partners

Sale of Dell to Michael Dell & Silver Lake Partners

Evercore served as sell-side M&A advisor to Dell on its sale to Michael Dell & Silver Lake Partners. The company had originally announced the sale at $13.65 offer price / share. However, Carl Icahn got involved by purchasing Dell’s shares in the stock market and launched an activist campaign against the transaction. The buyer consortium eventually raised the offer price to $13.75 / share.

Evercore Presentation to Dell (04-Feb-2013) – Original Announcement at $13.65 / Share

Evercore Presentation to Dell (02-Aug-2013) – Post-Icahn Involvement, Price Raises to $13.75 / Share

 

McMoRan Merger with Freeport to Create Freeport-McMoRan

Evercore served as M&A advisor to McMoRan in the evaluation of McMoRan’s merger with Freeport to create Freeport-McMoRan. Evercore’s fairness presentation gives a pretty good overview of their valuation approach. The two November presentations also give a very good overview of how to think about valuing a natural resources business.

Evercore Presentation to McMoRan Exploration (09-Nov-2012)

Evercore Presentation to McMoRan Exploration (21-Nov-2012)

Evercore Fairness Presentation to McMoRan Exploration (04-Dec-2012)

 

Sale of M&F Worldwide

Evercore was engaged as M&A advisor to help M&F Worldwide explore a potential sale of the business. The following presentation materials show how Evercore approached the process.

Evercore Presentation to M&F Worldwide (09-Jun-2011)

Evercore Presentation to M&F Worldwide (20-Jun-2011)

Evercore Presentation to M&F Worldwide (27-Jul-2011)

Evercore Presentation to M&F Worldwide (10-Aug-2011)

Evercore Presentation to M&F Worldwide (17-Aug-2011)

Evercore Presentation to M&F Worldwide (09-Sep-2011)

Evercore Fairness Presentation to M&F Worldwide (10-Sep-2011) – Fairness Opinion

Goldman Sachs

Sale of Dell to Michael Dell & Silver Lake Partners

Goldman Sachs advised Dell on its sale to Michael Dell & Silver Lake Partners. Goldman first codenamed Dell “Opal” and then quickly changed it to “Denali” to conform to the codename used by all other advisors.

Goldman Sachs Presentation to Dell (10-Oct-2012)

Goldman Sachs Presentation to Dell (18-Oct-2012)

Houlihan Lokey

Management Buyout of Synutra International

Houlihan Lokey advised Synutra International’s Special Committee on the evaluation of take-private proposal submitted by Company’s Chairman & CEO.

Houlihan Presentation to Synutra Special Committee (03-Jun-2016)

Houlihan Presentation to Synutra Special Committee (08-Sep-2016)

J.P. Morgan

Sale of Dell to Michael Dell & Silver Lake Partners

J.P.Morgan advised Dell on its sale to Michael Dell & Silver Lake Partners. Dell was codenamed “Denali” and Silver Lake was codenamed “Salamander”.

J.P. Morgan Presentation to Dell (04-Feb-2013)

 

Sale of Focus Media to Private Equity Consortium

J.P. Morgan served as sell-side M&A advisor to Focus Media’s Special Committee. The firm was engaged to evaluate a take-private proposal it had received from a private equity consortium, consisting of Focus Media’s CEO & Chairman along with various private equity firms.

J.P. Morgan Presentation to Focus Media (19-Dec-2012)

 

Sale of Kerzner to Consortium

J.P. Morgan served as sell-side M&A advisor Kerzner International in its sale to a buyer consortium consisting of its management and private equity firms.

J.P. Morgan Presentation to Kerzner (27-Feb-2006)

J.P. Morgan Presentation to Kerzner (08-Mar-2006)

J.P. Morgan Presentation to Kerzner (20-Mar-2006)

J.P. Morgan Presentation to Kerzner (26-Apr-2006)

J.P. Morgan Presentation to Kerzner (29-Apr-2006)

Lazard

Management Buyout of Dole Foods

Lazard served as sell-side M&A advisor to Dole Foods’ Special Committee regarding the sale of the company to its CEO, David H. Murdock (DHM). Dole Foods was codenamed “Dolphin” by Lazard.

Lazard Presentation to Dole Foods (11-Aug-2013)

 

Management Buyout of iPayment

Lazard served as sell-side M&A advisor to iPayment’s Special Committee regarding the sale of the company to management.

Lazard Presentation to iPayment (27-Dec-2005)

 

Sale of SunGard to Silver Lake Partners

Lazard provided fairness opinion to SunGard’s Special Committee regarding the sale of the company to Silver Lake. SunGard was codenamed “Solar” by Lazard.

Lazard Fairness Presentation to SunGard (27-Mar-2005)

LionTree Advisors

Starz Merger with Lionsgate

LionTree advised Starz on the merger with Lionsgate. Starz was codenamed “Saturn” and Lionsgate “Luna”. LionTree blacked out a few sections in the following presentations because they’re in relation to a potential transaction with another party that did not consummate (Starz went with Lionsgate instead).

LionTree Presentation to Starz (14-Jun-2016)

LionTree Presentation to Starz (22-Jun-2016)

Moelis & Company

Oracle’s Acquisition of NetSuite

Moelis served as buy-side M&A advisor to Oracle in its acquisition of Netsuite. Oracle was codenamed “Orlando” and Netsuite was codenamed “Napa”.

Moelis Presentation to Oracle (19-Apr-2016)

Moelis Presentation to Oracle (20-May-2016)

Moelis Presentation to Oracle (27-May-2016)

Moelis Presentation to Oracle (08-Jun-2016)

Moelis Presentation to Oracle (14-Jun-2016)

Moelis Presentation to Oracle (25-Jul-2016)

 

Sale of RealD to Rizvi Traverse

Moelis advised RealD on its sale to private equity firm Rizvi Traverse. RealD was codenamed “Rhombus”.

Moelis Presentation to RealD (15-Oct-2015)

Moelis Presentation to RealD (06-Nov-2015)

Morgan Stanley

Sale of Morgans Hotel Group to SBE Entertainment

Morgan Stanley served as sell-side M&A advisor to Morgans Hotel Group in its sale to SBE Entertainment. Morgans was codenamed “Monroe”.

Morgan Stanley Presentation to Morgans Hotel Group (14-Mar-2016)

Morgan Stanley Fairness Presentation to Morgans Hotel Group (08-May-2016)

 

Sale of Giant Interactive to PE Consortium

Morgan Stanley served as sell-side M&A advisor to Giant Interactive in its sale to a PE consortium. Giant was codenamed “Goliath”.

Morgan Stanley Presentation to Giant Interactive (31-Dec-2013)

Morgan Stanley Presentation to Giant Interactive (16-Mar-2014)

Perella Weinberg Partners

Sale of rue21 to Apax Partners

Perella Weinberg served as sell-side M&A advisor to rue21 on its sale to Apax Partners. rue21 was codenamed “Heat”.

Perella Weinberg Presentation to rue21 (02-Nov-2012)

Perella Weinberg Presentation to rue21 (22-May-2013)

PJT Partners

Lionsgate’s Acquisition of Starz

PJT Partners served as buy-side M&A advisor to Lionsgate in its acquisition of Starz. PJT codenamed Lionsgate “Lunar” and Starz “Solar”.

PJT Presentation to Lionsgate (23-May-2016)

PJT Presentation to Lionsgate (23-Jun-2016)

 

Valuation Report on CareFirst

PJT Partners’s predecessor was Blackstone Advisory Partners, which was spun-off from The Blackstone Group. Below is a valuation report prepared by Blackstone for CareFirst. It’s a great resource to learn how to value insurance businesses.

Blackstone Advisory Presentation on CareFirst (11-Feb-2003)

Qatalyst Partners

Sale of Ancestry.com to Permira

Qatalyst Partners served as sell-side M&A advisor to Ancestry.com on the sale of the company. Ancestry.com was codenamed “Arbor”.

Qatalyst Presentation to Ancestry (Jun-2012)

Qatalyst Presentation to Ancestry (Jul-2012)

Qatalyst Presentation to Ancestry (Aug-2012)

Qatalyst Presentation to Ancestry (Oct-2012)

Qatalyst Presentation to Ancestry (Late Oct-2012)

 

Sale of Autonomy to Oracle (Pitch Book)

Qatalyst Partners served as sell-side M&A advisor to Autonomy. Oracle had published the following presentations on its website after it entered a public dispute with Autonomy.

Qatalyst Pitch Book on Autonomy (Jan-2011)

Qatalyst Pitch Book on Autonomy Supplementary Materials (Jan-2011)

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