Case Study: The $85.4 Billion Merger of AT&T and Time Warner: Valuation Analysis
Instructions: The focus of this module is the analysis and interpretation of financial statements. Both cases focus on this application of your financial management skills. It would be easy to write ten-page reports on either of them. We are asking you for three pages plus supplementary materials. While it may sound easier to write a short report, this interpretation is misleading. Your report will be scored as to how well you are able to identify the truly relevant aspects of the case; here, that's the meaningful financial ratios and their interpretation. Depending on your topic, even beyond these cases, some financial ratios are more pertinent, some are less helpful. Identify what really matters. To support your analysis, your write-up should contain sufficient supplementary materials. Importantly, your calculations in Excel belong into an appendix, not in the main body.