Lessons From the Suntory – Beam Acquisition

Japan’s Suntory is making a big investment in buying the makers of Jim Beam for $13.6 billion. Jim Beam is a highly branded U.S. company and this deal is second largest acquisition of a U.S. company by a Japanese buyer.  The underlying concept is the folks in Japan have recognized their domestic markets are not …

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Why You Should Be Wary When Discussing EBITDA In M&A

* Guest post by John Dearing, Capstone Managing Director Just last week during a valuation discussion, I noted to the Board to be wary of EBITDA multiple discussions in the world of M&A. As an article from PE Hub points out, when you ask five different professionals to calculate a company’s EBITDA, you’ll come up with …

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Monkey See, Monkey Do

While visiting my brother’s family and partaking in a delicious cupcake during my niece’s one year milestone birthday celebration, I had a valuation thought…she was doing what most kids at that age do: copying the older kids’ movements. Waving, smiling, stuffing cake in her face and, of course, throwing everything. Adults, some very experienced, tend …

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