First Step to Final Offer (03/05/24)

Author

Brooks Gammill
March 05, 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!

CAREER OPPORTUNITIES

Class of 2026

Summer 2025 Applications

  • Goldman Sachs Summer 2025 Application [NEW] - Link Here

  • Alpine Summer 2025 Application [NEW] - Link Here

  • Solomon Partners Summer 2025 Applications [NEW] - Link Here

  • ScotiaBank Summer 2025 Application [NEW] - Link Here

  • Long Ridge Summer 2025 Application [NEW] - Link Here

  • D.E. Shaw Summer 2025 Application - Link Here

  • Alta Fox Capital Summer 2025 Application - Link Here

  • Greenhill Summer 2025 Applications - Link Here

  • Harris Williams Summer 2025 Applications - Link Here

  • The Carlyle Group Summer 2024 Application- Link Here

  • Shea & Co. Summer 2025 Application - Link Here

  • KeyBank Summer 2025 Applications- Link Here

  • Mizhou Summer 2025 Applications - Link Here

  • Evercore Summer 2025 Applications - Link Here

  • Barclays Summer 2025 Applications - Link Here

  • Bank of America Summer 2025 Applications - Link Here

  • Jefferies Summer 2025 Applications - Link Here

  • Financial Technology Partners Summer 2025 Application - Link Here

  • Macquarie Summer 2025 Applications - Link Here

  • UBS Summer 2025 Applications - Link Here

  • Eastdil Secured Summer 2025 Application - Link Here

  • PJT Partners RSSG Summer 2025 Application - Link Here

  • Roark Summer 2025 Application - Check Handshake

  • Liontree Summer 2025 Application - Check Handshake

  • Point72 Summer 2025 Application - Link Here

  • Citadel Summer 2025 Application - Link Here

  • Piper Sandler Summer 2025 Applications - Link Here

  • Morgan Stanley Summer 2025 Application  - Link Here

  • Baird Summer 2025 Applications  - Link Here

  • JMI Equity Summer 2025 Application  - Link Here

  • Aeris Partners Summer 2025 Application - Link Here

  • Lazard Summer 2025 Application - Link Here

  • MUFG Summer 2025 Application - Link Here

  • Raine Group Summer 2025 Application - Link Here

  • J.P. Morgan Summer 2025 Application- Link Here

  • RBC Summer 2025 Applications - Link Here

  • Insight Partners Summer 2025 Applications - Link Here

  • Rothschild Summer 2025 Applications - Link Here

Class of 2027

  • ibRecruit 2027 Cohort Applications - Link Here

  • J.P. Morgan Freshman Focus Program - Link Here

MARKET NEWS

Market News:

Quantitative Tightening not quite "paint drying," but having little impact so far (Fidelity)

New research indicates that quantitative tightening (QT) by major central banks has had only a modest impact on interest rates and minimal influence on financial indicators. Unlike the significant effects of quantitative easing (QE), the impact of QT seems to be primarily driven by central bank announcements rather than actual transactions.

Super Micro to join S&P 500 after stock price soars more than twentyfold in two years (CNBC)

Super Micro Computer's market cap surpassing $50 billion has led to its inclusion in the S&P 500 index, alongside Deckers Outdoor, while replacing Whirlpool and Zions Bancorporation, respectively. Super Micro's remarkable stock rally, driven by its role in the AI industry providing servers for Nvidia-based clusters, has positioned it as a key beneficiary of the AI boom, with analysts projecting significant revenue growth.

Rio Tinto CEO bullish on lithium but not eyeing big acquisitions (Reuters)

Rio Tinto CEO Jakob Stausholm stated that despite the expected growth in demand for lithium due to electric vehicle adoption, the metal's price is anticipated to remain volatile. Rio Tinto, focusing on lithium extraction technology improvement rather than major acquisitions, aims to navigate the fluctuating market. The company is developing lithium projects in Argentina and Serbia, expecting production to commence by 2024, while Stausholm expressed optimism about moderating inflation in Western countries stabilizing costs for companies.

M&A DEAL OVERVIEW

Vista Outdoor Enters into Definitive Agreement to Sell Sporting Products Business to Czechoslovak Group for $1.91 Billion (Vista)

Vista Outdoor has entered into a definitive agreement to sell its Sporting Products business to Czechoslovak Group for $1.91 billion in an all-cash transaction. This move aligns with the company's previous plan to split into two separate entities, with the Sporting Products business becoming part of CSG, a leading industrial technology holding company, while the Outdoor Products business, recently rebranded as Revelyst, will become an independent publicly traded company.

TECHNICAL QUESTION OF THE WEEK:

What are the 3 places in a DCF where taxes make a DIRECT impact?

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ADDITIONAL RESOURCES

LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:

Correct Answer - Levered

AUTHOR

Written by Beckett Kreter