From Target to Close: Tesco PLC Acquisition
This platform walks you through the acquisition of Tesco PLC with curated resources to deepen your understanding of core M&A concepts — including Enterprise Value, Deal Structuring, Debt Capacity, and Working Capital Optimization.
You can download the PDFs directly below or visit the full learning site for context and step-by-step walkthroughs.
📄 Downloadable Resources
| Document | Description | Format |
|---|---|---|
| AWC Analysis | How much capital is tied up in operations? | |
| Debt Capacity Analysis | How much debt can Tesco support? | |
| DuPont Analysis | Break down ROE to see return drivers. | |
| EV Analysis | Valuing Tesco using EV/EBITDA multiples. | |
| 5 States of Cash Analysis | How cash flows and gets trapped. |
🧭 Tesco Case Study Sequence
| Step | Focus Area | Learning & Tasks | Outcome |
|---|---|---|---|
| 1 | Understanding Tesco | Review Tesco’s history, segments, footprint, and financials. | Understand Tesco’s model and strategic position. |
| 2 | Investors Behind the Bid | Identify investor profiles, strategic motivations, and financial goals. | Contextualize the deal and understand incentives. |
| 3 | Mechanics of the Deal | Explore how EV translates into Equity Value. | Understand valuation flow and transaction math. |
| 4 | Shaping the Investment | Compare Tesco’s metrics to supermarket peers. | Assess deal strength using peer benchmarks. |
| 5 | Balancing Risk & Reward | Explore alternatives, risk trade-offs, and final recommendation. | Hone your investment judgment and scenario analysis. |
| 6 | Reflections | EV & Debt Capacity Exercise Summarize takeaways and reflect on how your thinking evolved. |
Solidify learning and apply it to future deals. |