Is the deal accretive, and should anyone believe it?

Enter the acquirer, the target and the terms. Your browser builds the merger model as you type: sources and uses, purchase price allocation, three years of pro forma EPS on adjusted and GAAP bases, breakeven synergies and the sensitivity grids. All free, before you sign in. Then the desk reviews it like an investment committee would, and every number it writes is checked against your model.

Each example comes with a saved review, one per verdict, so you can see the whole page for free.

Deal name (optional)

Money in $ millions, shares in millions, prices in $. "1.2bn", "(45)" and "1,520" are all read.

Acquirer

Name

Share price ($)

Diluted shares (m)

Year 1 net income ($m)

Net income growth (%/yr)

Marginal tax rate (%)

Cash on balance sheet ($m)

Existing debt ($m)

Year 1 EBITDA ($m, optional)

Target

Name

Unaffected share price ($)

Diluted shares (m)

Year 1 net income ($m)

Net income growth (%/yr)

Net debt ($m, negative for net cash)

Book value of equity ($m, for the PPA)

Year 1 EBITDA ($m, optional)

Interest rate on its debt (%)

Refinance the target's net debt at close

Deal terms

Offer premium (%)

or offer price per share ($)

Stock share of the equity price (%)

Acquirer cash used ($m, rest is new debt)

Rate on new debt, pre-tax (%)

Interest earned on cash (%)

Run-rate synergies, pre-tax ($m)

Synergies in Year 1 (% of run-rate)

Year 2 (%)

Year 3 (%)

One-time integration cost, Year 1 ($m)

Advisory and deal fees ($m)

Financing fees ($m)

Financing fee life (years)

Excess price to intangibles (%)

Intangible life (years)

What you want to know (optional)

Drop a deal .json saved from this page, or

The model (free, in your browser, no AI)

Pin this deal, change a term, and each box shows the change against it.

What the model found

Purchase price

Purchase price allocation

Sources and uses

Funding cost

Pro forma EPS

$m unless stated	Year 1	Year 2	Year 3

EPS bridge, Year 1

Line	EPS effect

Accretion by premium and run-rate synergies

Accretion by stock share of the price (same basis)

Stock share

Year 1

Year 2

Year 3

Free: no account, no run.

Fill in the required fields to price the review.

Year 1 adjusted

Year 3 adjusted

challenges

flags answered

statements checked

disagreements

Merger consequences

What drives the result

Assumptions to challenge

Severity	Input	Concern	How to test it

Flags answered

Structure options

Diligence questions

Board summary

Reconciliation with the model

Every number, input, bridge line and flag the review wrote was checked against the model your browser computed. A disagreement means the review, not your model, is wrong.

Summary

Raw model reply

The reply did not parse as the structured result, so it is shown as it arrived.

Your recent reviews

What this does, and what it does not

The model is plain arithmetic, the same way a merger consequences page is built. The offer price is the unaffected price times one plus the premium. Stock is issued at the acquirer's current price. The rest of the uses (the equity price, any target debt refinanced, and the fees) is paid from the acquirer's cash first, then new debt. Pro forma net income adds the target's earnings and the phased synergies after tax. It subtracts after-tax interest on the new debt and the interest the cash used no longer earns. GAAP EPS also charges amortisation of the new intangibles, financing fee amortisation and, in Year 1, the integration cost. Adjusted EPS leaves those out. The bridge lines add up exactly to the EPS change.

It does not know market prices, consensus estimates or anything about real companies. It does not model debt paydown, share buybacks, revenue synergies with their own margins, or purchase accounting beyond a single intangibles line. The review explains and challenges. It does not tell anyone to buy, sell or vote. Derived from the agent skill @anthropics/merger-model (anthropics/financial-services-plugins, Apache-2.0). The example companies are fictional.