FINA535-Time Warner merge

[Frances Chin]

Hi All,

 

The captioned case will be due the coming Saturday.  Upon reviewing the questions as listed in the Syllabus, its seems that this assignment is mainly 吹水 and not much calculation's involved.

 

I propose to have a teleconference tonight to discuss.  Please revert to indicate your availability, or counter-propose.

 

Prior to the meeting, please share your thoughts about the case.  Thanks.

 

btw., congratulation to Andy again ~~~ devote your time and effort to 努力連生貴子 la, you can be exempted this time.

 

Cheers!

Frances

[Aslan Lam]

Hi Frances,

 

Thanks for your work ar.  I will be available tonight after 23:00 because this Week I have 2 classes on Tuesday and Wednesday. 

 

Talk to you all tonight la.

 

Aslan

 

[Philip Wan]

i'm available to night, i'll be online after 9pm.

On 11/28/06, Frances Chin <franc...@gmail.com> wrote:

[Joseph Lam]

Dear all,

Sure.  FYI, my MSN is mcj...@hotmail.com

Joseph

[Frances Chin]

Hi All,

 

Then, MSN at 2300 la.

 

Frances

 

[Joseph Lam]

Dear all,

Some blow water stuff from the following stories. Seems the war between
Paramount and Time is very complicated

http://money.cnn.com/magazines/fortune/fortune_archive/1989/11/20/72769/index.htm

http://money.cnn.com/magazines/fortune/fortune_archive/1989/08/14/72356/index.htm

Joseph

[Joseph Lam]

FYI

[Joseph Lam]

Dear all,

Please find attached the 2nd draft on the assignment.  Most of the verbal answers are included and other's input/revisions are welcomed.

Cheers,
Joseph

[SIT Kwok Choi, Pitney]

My question 6 for comments...  Ironically, it seems Time did the same thing (borrow money) to purchase Warner and therefore had the same drawback finally.  But I think we can assume we do not know the result yet...

 

Pitney

 

----- Original Message -----

From: Joseph Lam

To: fin...@googlegroups.com

Sent: Wednesday, November 29, 2006 9:32 PM

Subject: Re: FINA535-Time Warner merge

[Frances Chin]

Hi All,

 

Is it ok to have a tele conf. tonight at 9pm?  Can anyone arrange a conf call no.? 

 

Thanks & regards,

Frances

 

[andy chow]

Hi Team,
Please use this bridge.

Passcode: 916770
Hong Kong: 3006 2333

Thanks,
Andy

[Aslan Lam]

I filled in some additional point for Q2 ar.

 

Talk to you all tonight.

 

Aslan

 

[andy chow]

Team,
I also make some comments in red.
Please discuss this
Cheers,
Andy

[Philip Wan]

Dear all,

tactics related to hostile takeover:
http://en.wikipedia.org/wiki/Takeover#Tactics_against_hostile_takeover

i'll send out the valuation tonight.

philip

[Philip Wan]

Hi there,

I've tried but cannot construct a FCF valuation due to lack of
information (e.g. operating working capital). Instead, I took a
different approach and analyze the drivers for higher valuation
estimated by the i-bank. Please take a look and see
if you agree or not.

philip

[Frances Chin]

Hi All,

 

Sorry for the slow progress....

 

Attached please find the consolidated version excluding question (4).  I'll incorporate the FCF valuation into it tonight.  Meanwhile, please help me to take a look of the write-up and feel free to comment.

 

Thanks & best regards,

Frances

 

[Aslan Lam]

Hi All,

 

Need sometime to digest Philip's calculation.  Only thinking about the 5% growth rate, will it be too large. 

For Frances work, I think it is pretty okay for me la.

 

Cheers ......

 

Aslan

[Frances Chin]

Hi All,

 

Consolidated version with Qs. 4 and some typo corrected.  I didn't comment on the valuation of i-bankers for Time as we can't justify our answers anyway due to lack of information....

 

Kindly review and modify.

 

Thanks & best regards,

Frances