Summary of Proposed Transaction
Put the terms and the multiples they imply on one page, the way a director reads them.
Seat
IB · PE
Level
Analyst
Runtime
~20 min
Output
Transaction summary page: Excel + slide
What this helps you accomplish
The first page a director turns to. The offer against each reference price, diluted shares built by the treasury stock method, equity value to enterprise value, and the multiples the offer implies on trailing and forward metrics. An offer that is a fair premium to a depressed price can still be a low multiple of earnings, and this page is where that shows.
What you get
Not a description of an output. The file itself, in the conventions a banker, a PE associate or a hedge fund analyst already reads without being told.
{TICKER}_transaction-overview.xlsx
Excel workbook
- 1
Offer and market reference prices ($ per share)
The offer against the unaffected price, the 30-day VWAP and the 52-week high, with the premium to each
- 2
Diluted shares at the offer, treasury stock method (mm)
Basic shares, option tranches by strike and RSUs, with the dilutive count computed at the offer
- 3
Financials ($mm, except per share)
Net debt and the last twelve months revenue, EBITDA and earnings the multiples are struck on
- 4
Implied valuation at the offer
Equity value, enterprise value, EV to revenue and EBITDA and P/E on trailing and forward figures
- 5
Termination fees
The break fee as a percentage of equity value, which is where a 2% to 4% convention is either met or explained
- 6
PowerPoint
One slide: a KPI rail of the offer, the premium and the implied multiples, with the key terms as a text block
Where the numbers come from
From the filings: basic shares from the cover page, net debt at the latest balance sheet, and last-twelve-month revenue and EBITDA. Every filed figure resolves to its form, period, page, the printed value and a link into the filing on EDGAR. Not from filings: the offer, next-twelve-month figures set equal to trailing, no options or RSUs until you supply the tranches, and the fees and key terms. Assumptions are listed on the slide’s source line under "Not from filings", so an assumed input is never read as a filed one.
Run it yourself
python3 skills/deal-slides/build.py transaction-overview --ticker BSX --offer 60Delegate · Verify · Decide
The core L3VLUP principle: AI output is never automatically correct. Know what to hand off, what to check, and what only you can own.
Delegate
AI is good enough to do this.
- • Pulling cover-page shares, net debt and the trailing income statement with a citation on each
- • The treasury stock method arithmetic across option tranches
- • The equity to enterprise value bridge and every implied multiple
- • Building the branded slide and its source line
Verify
AI accelerates you here, but a professional checks the work.
- • Net debt against the balance sheet, including short-term investments and the current portion of debt
- • That the trailing figures are the fiscal year plus the year to date less the prior year to date
- • That every option tranche with a strike below the offer shows as dilutive, and the diluted count sits above basic plus RSUs
- • That the termination fee percentage is the fee over equity value, not over enterprise value
Decide
Judgment the human owns. This is the skill.
- • The offer and the reference price the premium is measured against
- • Whether the forward metrics are consensus, management case or trailing held flat
- • Which key terms belong on the page, and which belong in the appendix
- • Whether the implied multiples support calling the offer full, fair or opportunistic
Inputs required
- Company name or ticker
- The offer per share, and the unaffected price if it is not the last close
- Option tranches and RSUs, if the diluted count is to be real
- Your own numbers where you would rather not use the default
The workflow
- 1
Resolve the company
A ticker or a name, matched against the SEC ticker file. More than one match stops the build and lists the candidates.
- 2
Pull the filings
Cover-page shares, the latest balance sheet for net debt, and the fiscal year plus year-to-date figures that make the trailing twelve months.
- 3
Read what is filed against what is assumed
The share count is basic until you give the option tranches, and the forward metrics equal the trailing ones until you give consensus. Both are stated.
- 4
Fix the reference price
The premium means nothing without it. Set the unaffected date and say so on the page.
- 5
Build and read the multiples
Compare the implied EV to EBITDA with the trading comparables and the precedents in the same book. A multiple far outside both usually means net debt or EBITDA is in the wrong unit.
Run this skill
Any listed company, anywhere. Ticker or name.
Quality checklist
The output isn’t done until every box ticks.
- verify reports zero errors and every derived cell is a formula on blue inputs
- Units are on every table header and the subtitle names the currency and the pricing date
- The unaffected price carries its date, and any VWAP says how many days it covers
- Every option tranche with a strike below the offer shows a positive dilutive count, and diluted shares exceed basic plus RSUs
- The implied multiples sit in the neighbourhood of the comparables and precedents elsewhere in the book
- The termination fee is 2% to 4% of equity value, or the notes say why it is not
Practise the fundamentals first
Free, no sign-up — in the Labs.