First Step to Final Offer (01/30/24)

Author

Brooks Gammill
January 30, 2024

Your weekly round-up of an M&A deal walkthrough, insightful market news summaries, technical quiz questions, and various internship, events, and diversity programs. A key resource to best prepare yourself for finance recruiting. If someone sent you the newsletter subscribe below!

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MARKET NEWS

Elon Musk’s Neuralink implants brain tech in human patient for the first time (CNBC)

Neuralink, Elon Musk's neurotech startup, has achieved a milestone by successfully implanting its device in a human for the first time, aiming to enable individuals with severe paralysis to control external technologies through neural signals. Alongside other companies in the emerging field of brain-computer interface technology, Neuralink's progress signifies a significant step towards revolutionizing communication and accessibility for those with neurological conditions.

Toyota remains world's top-selling automaker; chairman apologizes over scandals (Reuters)

Toyota Motor retained its position as the world's top-selling automaker for the fourth consecutive year, reporting record annual sales of 11.2 million vehicles in 2023, despite scandals at three group companies. Chairman Akio Toyoda apologized for governance issues at Daihatsu, Hino Motors, and Toyota Industries, while the company faces challenges including supply chain disruptions and safety scandals affecting its subsidiaries.

Gambling group Flutter bets on US primary listing (Reuters)

Flutter, a Dublin-based online betting company, announced plans to propose moving its primary stock listing from London to New York at its annual general meeting in May, with shareholder approval expected. The transition, aimed at capitalizing on higher valuations in U.S. markets, is scheduled for late in the second quarter or early in the third, while the company plans to maintain a secondary listing in London.

M&A DEAL OVERVIEW

Mars’ £534mn Acquisition of Hotel Chocolat

Mars Inc's acquisition of Hotel Chocolat Group Plc for £534 million, announced in November 2023, marks a strategic move to bolster Hotel Chocolat's international expansion efforts and tap into healthier snacking trends. While Mars aims to leverage Hotel Chocolat's premium quality and sustainability focus, risks such as consumer sentiment and macroeconomic challenges underscore the complexities of the deal's execution.

TECHNICAL QUESTION OF THE WEEK:

Rank these 3 valuation methods from greatest to least expected value: LBO, Public Comps, Precedent Transactions,

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ADDITIONAL RESOURCES

LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:

Correct Answer - Depends on the asset being acquired and the structure of the transaction

AUTHOR

Written by Beckett Kreter