You have to use the range as a benchmark for the "Deal Comps" that was 
supplied
in the handout material.  Don't worry, I questioned it too for a couple of
minutes.

**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax


____________________Reply Separator____________________
Subject:    Help - Q1!
Author: asama@yahoo.com (Anil Sama)
Date:       03/01/2001 5:07 PM

Howdy Team,


Re: Vons part B, what the heck are we supposed to do for Q1 with
the "Deal Comps" sheet? The sheet I have is blank with some names of
acquirers and sellers... Is this supposed to be blank? Is there data on
these specific acquisitions in some other part of the assignment.


Also, I calculated TEV to sales, and TEV to EBITDA for Safeway
VONS post acquisition. I get values *below* the lower end of the
range of values of comparables. Is this way off? What are we
supposed to make of it...


Hoping some of you have already worked this out ;-)


- Confused!


BTW, did any of you check out this week's HaasWeek? There
are at least three different write-ups proclaiming how totally
amazing Tasker's class is. She's famous already!



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