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Non-Distressed Corporate Restructurings and Reorganizations - 1st Edition - ISBN: 9780124115095

Non-Distressed Corporate Restructurings and Reorganizations

1st Edition

A Valuation Approach

Author: James Seward
Hardcover ISBN: 9780124115095
Imprint: Academic Press
Published Date: 1st December 2015
Page Count: 464
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Description

A knowledge of restructuring and reorganizing transactions, how they work, and their competitive, strategic, and value consequences should be the foundation of business and finance careers. James Seward emphasizes similarities among these transactions as well as their distinctive advantages, features and characteristics. Readers learn how to decompose complex transactions and structures into their basic components and how to analyze them with the tools of modern corporate finance. He presents detailed real-world examples and illustrations by examining restructured and reorganized companies. Reinforcing the proper management of corporations, he shows how these analytical tools deliver practical insights about the sources of enterprise value enhancement in each transactional form. His book replaces largely descriptive, superficial, and selectively incomplete treatments of these transactions with fundamentals designed to produce more focused, competitive entities and to enhance shareholder value.

Key Features

  • Features analytical and descriptive components
  • Presents detailed information on legal, tax, and accounting (especially financial reporting) aspects of each transaction type
  • Covers financial management concepts such as estimating discount rates, forecasting relevant cash flows, determining optimal financial policies, and distributing cash efficiently to stakeholders

Readership

Upper-division undergraduates and graduate students (MBA) working in advanced corporate finance

Table of Contents

I. Valuation Methodologies in Non-Distressed Corporate Restructurings and Reorganizations

a. Discounted Cash Flow Methods

b. Adjusted Present Value and Leveraged Transaction Methods

c. Comparables Analysis

d. Real Options

e. Liquidation Analysis

f. Sum-of-the-Parts and Break-up Analysis

g. Exchange Offer Analysis

II. Valuation of Non-Distressed Corporate Restructurings and Reorganizations

a. Asset-based Restructurings and Reorganizations

b. Equity-based Restructurings and Reorganizations

c. Leveraged-based Restructurings and Reorganizations

Details

No. of pages:
464
Language:
English
Copyright:
© Academic Press 2015
Published:
1st December 2015
Imprint:
Academic Press
Hardcover ISBN:
9780124115095

About the Author

James Seward

James Seward is the Prochnow Fellow in Finance at the University of Wisconsin, Madison. He is past editor of "Financial Management," the largest circulation journal in the field of finance, and is a member of the Academic Advisory Committee for the Turnaround Management Association. His clients have included Marsh & McLennan, the Wisconsin and New York Public Service Commissions, Citicorp, Hewlitt Packard, Kimberly-Clark, Lockheed Martin, Merrill Lynch, UPM-Kymmene, Westinghouse, and others.

Affiliations and Expertise

is the Prochnow Fellow in Finance and Executive Director of the Nicholas Center for Corporate Finance and Investment Banking at the University of Wisconsin, Madison, U.S.A. He is a member of the Academic Advisory Committee for the Turnaround Management Association

Ratings and Reviews