M&A Valuation Case Study: LVMH Acquisition of Tiffany & Co.

Project Overview

This project provides a comprehensive financial valuation and merger analysis of LVMH's acquisition of Tiffany & Co. The model evaluates the standalone value of both entities and the pro-forma impact of the merger.

Key Components

• Standalone Valuation: Built 5-year DCF models for both Tiffany and LVMH.
• Relative Valuation: Performed Trading Comps (Peer Group) and Precedent Transaction analysis.
• WACC Analysis: Detailed calculation of the cost of capital, including beta unlevering/re-levering.
• Football Field Chart: Synthesized all valuation methods (DCF, Comps, 52-week High/Low) to determine a target price range.
• Merger Modeling: Analysis of accretion/dilution and synergy requirements.

How to Use

1. Download the M&A_Tiffany.xlsx file.
2. Navigate to the 'FOOTBALL' tab for the valuation summary.
3. Check the 'Merger val' tabs for pro-forma calculations.