Private Equity
Harold Bierman
- 14 januari 2003
- 9780471392927
Samenvatting:
Publicly held companies create many advantages for all shareholders, from individual investors to upper-level managers within a company. But the different financial objectives of each shareholder can easily become a problem. The answer to this dilemma is private equity in the form of leveraged buyouts (LBOs), managerial buyouts (MBOs), or something in between. Private equity can take many different forms, but for the purpose of this book it refers to the common stock of a corporation where that common stock is held by a relatively few investors and is not traded on any of the conventional stock markets.
Private Equity: Transforming Public Stock to Create Value thoroughly explores private equity capital and its advantages¿both financial and operational. Financial expert Harold Bierman Jr. takes an in-depth look at private equity and helps you gain a firm understanding of it from both a managerial and investment standpoint.
Through practical advice and detailed case studies of companies who have traveled this path¿Metromedia, RJR Nabisco, Marietta Corp., and Owens Corning¿this book arms you with a working knowledge of private equity. As an investor, you'll learn how to increase your rate of return on investments without increasing your risk. As a manager, you'll learn how to create private equity as well as supplement your compensation with a significant share of a firm's profits. Whatever position you're in, Private Equity can help you succeed. Highlighted topics include:
- Valuing target firms
- Structuring and selling the deal
- Changing dividend policies and capital structures
- Merchant banking
- Operations
- Partial LBOs
By discussing both theoretical and real-world issues, this comprehensive guide clearly demonstrates how transforming public stock into private equity can create tremendous value for everyone involved. Along with the valuable tips, tools, and formulas that fill these pages, numerous questions and problems are also presented at the end of each chapter to test your knowledge on the concepts presented.
Private equity is something you can use as a management tool or as an alternative investment to generate superior returns. Either way, this book can show you the best ways to utilize private equity. Expert advice and real-world examples will help you understand the enormous potential of private equity like never before.