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Debating the CBS-CNET Deal - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times

"CBS’s $11.50-per-share deal for CNET seems expensive by at least two measures. Its 45 percent premium is unusually high, and Mr. Bazinet of Citi calculates that the price is 18 times CNET’s projected 2008 Ebitda, above the multiples recently paid for Bankrate (12 times Ebitda) and WebMD (14 times)....And on the question of price, CBS said it believes that the deal will have an internal rate of return of 13 percent and will not have any effect on its dividend, which it just increased last quarter."

Given the weeks and weeks we spend on valuation and is close cousin capital budgeting, I thought my students might like to see some of the things are actually used ;)

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