Tax implications on Cash vs Stock deal
Do Stock deals enjoy a distinct financial advantage over cash deals due to U.S. tax policy (since stock-for-stock deals are not considered taxable events)? If so, what are the tax implications of stock vs. cash (besides the fact that cash clearly has forgone interest income or the interest expense f... Do Stock deals enjoy a distinct financial advantage over cash deals due to U.S. tax policy (since stock-for-stock deals are not considered taxable events)? If so, what are the tax implications of stock vs. cash (besides the fact that cash clearly has forgone interest income or the interest expense from debt raised for cash implications and hence subsequent implications on tax)? How is this incorporated into the M&A model? Read More

Re: Text to Row
Thank you so much for response. That was very detailed and I definitely did learn from it. However, when I was most of the way through this, I realized my explanation must not have gotten a certain detail across. I apologize for the error. Each operator/address/phone combo are in its own cell. What ... Thank you so much for response. That was very detailed and I definitely did learn from it. However, when I was most of the way through this, I realized my explanation must not have gotten a certain detail across. I apologize for the error. Each operator/address/phone combo are in its own cell. What I mean is that:

Cell A1:
Operator: John Doe
Address: 123 S Washington St.
Phone: (123) 456-789

Cell A2:
Operator: John Doe
Address: 123 S Washington St.
Phone: (123) 456-789

Cell A3:
Operator: John Doe
Address: 123 S Washington St.
Phone: (123) 456-789

And so on. To answer your question from your first reply, yes. What I am trying to do is separate the text and transpose the data to where Column A will have all operators, Column B will have all addresses and Column C will have all phone numbers.

Again, I apologize for the misrepresentation of my situation, and I do appreciate this help.

Best,

Matt Read More

Charts suddenly not visible/filled in box of one colour
All of a sudden all of my charts in my model are exhibiting the following problem: - they are completely filled up in grey - as if one box but the chart is not visible - I can only see the chart data/output when i click on the chart - as soon as i click anywhere else in the model the chart is autom... All of a sudden all of my charts in my model are exhibiting the following problem:

- they are completely filled up in grey
- as if one box but the chart is not visible
- I can only see the chart data/output when i click on the chart
- as soon as i click anywhere else in the model the chart is automatically blanked out again in gray

Can you help pls? Read More

Treatment of Revolver as Debt for TEV
I wanted to ask your view on a discussion we had here at the firm. The topic was how to calculate the Net Debt of a company for the purpose of subtracting it to the enterprise value and getting to a purchase price. The firm is a small growing company with approximately 1.6m in Accounts Receivabl... I wanted to ask your view on a discussion we had here at the firm. The topic was how to calculate the Net Debt of a company for the purpose of subtracting it to the enterprise value and getting to a purchase price.

The firm is a small growing company with approximately 1.6m in Accounts Receivable and Inventory, approximately 0.63m in Accounts Payable and a Revolving Line of 0.59m.

Even though the Revolving Line is a debt toward a bank and it bears interests, one MD suggested we shouldn't subtract it from the enterprise value, because the revolving line is used to finance the working capital and not the assets of the company.

What do you think about that? Read More

Data Table Question
I took your class at NYSSA a couple of years ago and had a random question that I hope you could help with... I want to create two variable data table for each year over a twenty year period. Is there a more efficient way of doing this without having to create a separate table for each year?