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Change in stock price of Berkshire Hathway implies following:
Cash is put to better use (from idle to cash-$43bln(page13) used for generating ROE of 7.5%/15%)
Synergies generated from existing business of Mid Western (Electricity) and new company Pacific Corp (Electricity). Market perceives that more value is added to the acquirer from the acquisition.
Gain of $2.17bln implies that intrinsic value of Pacific Corp is $2.17bln more than purchase consideration. 2.
Based on the multiples for comparable regulated utilities, what is the range of possible values for PacifiCorp? What questions might you have about this range? Summary of implied value of Pacific Corp Valuation multiples (Exhibit 10)($mln) EV as multiple of: MV Equity as multiple of: Rev EBIT EBITDA Net Income EPS BV Median 6252 8775 9023 7596 4277 5904
Mean6584 9289 9076 7553 4308 5678 Range of possible value (EV): $6.2bn to $9.2bn Range of MV: $4.2bn to $5.9bn Most commonly used multiples for finding intrinsic value is EV/EBITDA because EBITDA is commonly used as a proxy for cash flow available to the firm.
jhgjhghjfjdfghdh – College Essay – Hua-Zhangwww.studymode.com/essays/Jhgjhghjfjdfghdh-39632359.htmlSpecifically, what does the $2.55 billion gain in Berkshire’s market value of equity … what do you think PacifiCorp was worth on its own before its acquisition by … [DOC]Warren E. Buffett, 2005 (TN)
textbook-testbank.com/wp-content/…/TN1_Warren_E_Buffett_2005.doc Specifically, what does the $2.55 billion gain in Berkshire’s market value of equity … what do you think PacifiCorp was worth on its own before its acquisition by … Case Warren Buffett 2005_百度文库
wenku.baidu.com/view/852bde3a0912a21614792956.html17 Dec 2011 – The acquisition of PacifiCorp renewed public interest in its sponsor, Warren Buffett. In many … “I will keep well over 99% of my net worth in Berkshire. …. Prior to March 2002, neither Buffett nor Berkshire had ever traded in …. But the rest of the time, you will be wiser to form your own ideas of the value of your … What Is Pacificorp Is Worth On Its Own Before Its Acquisition … www.papercamp.com/…pacificorp-is-worth-on-its-own-before-its-acquis… Based on your own analysis, what do you think PacifiCorp was worth on its own … Specifically, what does the $2.55 billion gain in Berkshires market value of … December | 2012 | value and opportunity
valueandopportunity.com/2012/12/30 Dec 2012 – Consequently, we assign them their own sector in this letter and also split out … I think this is also worth keeping in mind, as many investors would judge … There is no hiding your history when you stand before these regulators. … When MidAmerican proposed its purchase of PacifiCorp in 2005, regulators … Berkshire Hathaway Notes – Redfield, Blonsky & Co.
www.rbcpa.com/companies/brk_notes.htmlAnd even a worrier like Charlie can’t think of an event that would … “Berkshire Hathaway will complete the purchase of PacifiCorp from Scottish … Trading at just 1.38 times book value, Xcel is a buy up to 19 for a takeover offer in the low to mid-20s. … before interest and taxes last year, compared to $326 million in 2004; its.