Biotechnology Industry Merger Financial Model

Description
Exact Sciences Corp. Acquisition of Genomic Health Inc. Financial Model is a financial model of a merger in the North American Biotechnology and Health Care industry that is ideal for investment banking, corporate finance, Biotechnology and Health Care finance professionals and valuation experts. The deal is a cash and stock deal with a floating exchange ratio and collar. The model includes the following features:
- Mergers and Acquisition model and accretion and dilution analysis of the cash and stock deal with a collar to Exact Sciences shareholders as of July 25, 2019, three days prior to the deal announcement.
- Sources and uses of funds model, purchase price allocation and calculation of goodwill in the transaction given the deal tearsheet information.
- Historical financial statements of the Acquirer and the Target and analysis of earnings quality, cash flow quality, operating efficiency, balance sheet strength and valuation risks of both parties.
- Recapitalized pro forma balance sheet of the combined company as well as calculation of credit statistics and leverage ratios of the Acquirer, Target and the combined company.
- Sensitivity analysis of accretion and dilution to Exact Sciences shareholders as of July 25, 2019 given a range of the % of cash consideration in the transaction financed with debt and synergies.
- Impact of Target acquisition on the Acquirer as of July 25, 2019 and the value creation opportunities for Target and the Acquirer given the most appropriate range of price to sales ratios as of 2019 and 2020.
- Intrinsic valuation and relative valuation (comparable analysis) of the Target shares based on forward price to sales multiples of selected peers.
- Relative valuation of the Acquirer given forward price to sales multiples of selected peers.
- Analysis of the floating exchange ratio and collar terms given a range of Acquirer share price prior to deal close and the corresponding deal offer value, Acquirer shares issued in the transaction and Acquirer’s final percentage of ownership of the combined company.
- Calculation of basic and diluted shares outstanding for the Acquirer and Target.
- A summary dashboard of the combined company financial report and credit statistics, market data, transaction and deal data, implied forward price to sales multiples, sources and uses of funds, accretion and dilution analysis, and value creation opportunities for both parties.
- The tabs of the models are: Cover, Summary, Assumptions, Sources & Uses, Historicals, Model, Post Transaction & Contribution, Exchange Ratio, Valuation, Shares and Notes.
- A report of the transaction and the financial model describing different steps and segments of the model and the transaction terms as of July 25, 2019 along with the print ready format of the model is included with the package.