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- First Step to Final Offer (06/18/24)
First Step to Final Offer (06/18/24)
Brooks Gammill
June 18, 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
Four more US states join Justice Department's smartphone markets monopoly lawsuit
Four additional U.S. states have joined the Justice Department's ongoing lawsuit against Google, which alleges that the company holds an illegal monopoly in smartphone markets. The lawsuit, initially filed in 2020, claims that Google's agreements with smartphone makers, requiring them to pre-install Google Search and other apps, stifles competition. The inclusion of these states strengthens the government's position as it seeks to dismantle Google's monopolistic practices and promote fair competition in the tech industry. (Reuters)
Google introduces FAST ads for streaming TV network
Google has unveiled a new ad-supported streaming TV network, featuring Free Ad-Supported Streaming Television (FAST) channels. This initiative aims to diversify Google's streaming offerings and capture a broader audience. The FAST channels will provide free, ad-supported access to a variety of content, competing with other ad-supported streaming services. Google plans to integrate these channels into its Google TV platform, enhancing its appeal to cost-conscious consumers seeking diverse entertainment options. (The Verge)
EU to impose multi-billion euro tariffs on Chinese EVs
The European Union is set to impose significant tariffs on Chinese electric vehicles (EVs), responding to concerns about market distortions and unfair competition. These tariffs, amounting to several billion euros, aim to protect the EU's automotive industry from being undermined by cheaper Chinese imports. The move is part of a broader strategy to ensure fair market practices and bolster the competitiveness of European EV manufacturers. (Reuters)
M&A Deal Overview
Sony Pictures acquires Alamo Drafthouse in strategic move
LOS ANGELES, June 12 (CNBC) - Sony Pictures has announced its acquisition of Alamo Drafthouse, a cinema chain known for its unique movie-going experience that combines dining with entertainment. This strategic move aims to expand Sony's presence in the cinema industry and capitalize on Alamo's dedicated customer base. The acquisition will allow Sony to integrate Alamo Drafthouse's innovative screening approach with its extensive film library, enhancing the overall cinematic experience for audiences. The financial terms of the deal were not disclosed, but it marks a significant step in Sony's efforts to bolster its theatrical distribution capabilities. (CNBC)
TECHNICAL QUESTION OF THE WEEK:
EV/EBITDA is 10x, P/E is 20x, interest expense is 20M, interest rate is 5%, depreciation is 20M, Equity Value is 200M. What is the tax rate? |
ADDITIONAL RESOURCES
LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:
Correct Answer - $1,050