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Capltal Budgeting : Glazers Takeover Manchester United
Finance & Accounting
Pages 9 (2259 words)
CAPITAL BUDGETING: GLAZERS TAKEOVER MANCHESTER UNITED Table of Contents Table of Contents 2 Introduction 3 Capital Budgeting Theories 3 Evaluation Techniques 4 1.Traditional techniques 4 2.Discounted Cash Flow (DCF) techniques 5 Corporate Valuation and Takeover 6 Takeover Bid of Manchester United – Background 7 Glazers’ Motivation 8 Conclusion 12 References 14 Introduction Capital budgeting decisions plays a pivotal role in the efficient running of a business organisation.
The takeover of Manchester United football club by Glazer family of United States has been studied in details. What prompted and motivated Glazer to takeover Manchester United have also been studied. The process of financing of the takeover bid by Glazer has been mentioned in this study. Capital Budgeting Theories The future prospects of any firm or company depends on its efficient capital budgeting decisions. The competitive power of an organisation is also determined through its efficient capital budgeting decisions. Capital budgeting decision by firms relies on the fact of anticipating all the future benefits that it can earn after making an investment now. Hence capital budgeting system is applied by the companies to make an evaluation of its investment decisions in which a present outlay is involved but the benefits are likely to be earned over a longer time period in future. Capital budgeting decisions can be classified as: a. Decisions which affect revenues and are income expansionary in nature. b. Decisions which results in reduction of costs for the firm. c. Decisions which are mutually exclusive in nature. d. ...
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