Mervyns & Marshall Fields Inputs

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Marshall's Cash
Could you explain to me why we do not subtract Marshall Field's cash ($25 million) to get enterprise value?
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added 9 years ago
Mervyn enterprise value
If we are trying to determine Mervyn's value on the same terms as other retailers, why would we net out A/R when we did not do that for any other deal or trade comp? If Mervyn is valued after the sale of receivables to GE Capital, then the $1,650 million equity value is inappropriate because it is t... Read More