Barclays definition
Examples of Barclays in a sentence
In connection with certain of these reviews, CenturyTel consulted several financial advisors, including Xxxxxx Brothers, certain assets of which, including its North American investment banking franchise, were subsequently acquired by Barclays Capital and which we refer to as Barclays Capital, and Xxxxxx Xxxxxxx.
Barclays Capital and Morgan Stanley performed a discounted cash flow analysis of Embarq, which is a valuation methodology used to derive a valuation of an asset by calculating the “present value” of estimated future cash flows of the asset.
Barclays Capital and Xxxxxx Xxxxxxx provided the CenturyTel board with a preliminary financial overview of CenturyTel as a stand-alone entity, CenturyTel after potential further restructuring steps, a combination of CenturyTel and Embarq (both with and without Company D’s participation), and the proposed Company C transaction.
For each transaction, Barclays Capital and Xxxxxx Xxxxxxx calculated the premium paid by the acquiror by comparing, among other things, the announced transaction value per share to the target company’s share price one-trading day prior to announcement and the target company’s share price 30 days prior to announcement.
In calculating the estimated enterprise value of Embarq using the discounted cash flow methodology, Barclays Capital and Morgan Stanley added (i) the present value of Embarq’s projected after-tax unlevered free cash flows for fiscal years 2009 through 2012 to (ii) the present value of Embarq’s residual after-tax unlevered free cash flows for the fiscal years after 2012 estimated based on the projected after-tax unlevered free cash flows for fiscal year 2013, also referred to as the terminal value.