Breaking into M&A - EV-EQ Bridge [EN]

Présentation du cours

The bridge between the Equity and Enterprise Value is perhaps one of the least taught topics at school. Yet it is a crucial subject that is regularly tested during M&A, and more broadly, corporate finance interviews.

And for good reason – calculating the bridge comprises one of the key tasks of an analyst in corporate finance. The bridge is a key component of the 3 principal methods used to value a company, and to assess the impact of a merger, acquisition or asset sale.

The vast majority of candidates are able to cite the different components of the EV-EQ bridge. Yet this on its own is insufficient in an interview. Candidates who succeed in securing an offer are those who are able not just to recite the bridge formula, but also to explain the rationale behind each adjustment – why, for instance, one must add minority interests to the bridge when going from Equity Value to Enterprise Value, or subtract investments in associates; the type of pension plan to be included in the bridge, and the reason for including leases in the bridge calculation. The answers to these questions and more are included in the course. Through the module, you will learn not just what to say, but also how to say it. Our focus is enabling you to achieve performance excellence in your interviews.