Preparatory Material

GS Workshop
About Goldman Sachs
What is Investment Bank
What is Goldman Sachs-Financial Services
institution
Role as an Advisor, Principal, Financer,Asset
Manager, Market Maker
Difference Between Investment banking,
Merchant Banking, Asset Management, Sales
and Trading desk(Various functions)

Investment banking Division
38 offices, 2500 people
Offices across- Americas, EMEA, APEJ, Japan, India
Industry Groups-Tech, media telecom, Real estate,
Financial Institutions, Natural Resources, Financial
Sponsors, Healthcare, Industrials, Consumer/Retail
Product Groups-Equity Capital Markets, Leveraged
Finance, Structured Finance, Derivatives and Risk
management
Functions-
Mergers andAcquisitions
(Acquisitions,Sale/Divestiture,Mergers,Leveraged Buy-outs)
Financings (Equity offerings,Debt offerings,Derivatives)
General Financial Advisory (Capital Structure, Anti Raid,
Dividend Policy ,Restructuring)
Chinese Wall


Previous Year Workshop
Introduction with 2 deals-
Exxon-Mobil =ExxonMobil(Merger )
Pfizer+Wyeth=Pfizer(Acquisition)
Friendly/Negotiated ,Hostile takeover(microsoft-
yahoo,kraft-cadbury,vodafone-verizon)
Drivers of an Merger and acquisition (Buyer
perspective,Seller Perspective)
Valuation-(See attached materials)
Market based(Relative valuation-P/E ratio etc)
Intrinsic(DCF,LBO)

Merger and Acquisition Process
1. Development of an M&A strategy
2. Preparation-Buy side/Sell side
3. Execution (documentation, due diligence)
4. Post merger Integration
Key Themes and Trends in M&A
Yearwise/chronology
Sectorwise

Pitch Book
Advisor Credentials + relevant transactions
Macroeconomic Updates, Industry Landscape
Company Overview
Financial and Operational Benchmarking
Identifying strategic opportunities
Valuation of selected targets/Merger analysis
Football Field
Summary
GS Deals
Key transactions(2013)
Advisor to vodafone on sale of its stake inVZW to
verizon for $130.0 bn
Advisor to Bausch and lomb on sale of its business
to valeant for $11.6bn
Kpn-america movil for $22,7bn
Warner chilcott-Actavis for $8.2bn
Master blenders-Oakleaf BV for $8.2 bn
Thank You