ouyangbo/hermes-agent
1
0
Fork 0
Code Issues Pull Requests Actions 11 Packages Projects Releases Wiki Activity
Files
cf60ebbdfd264c3fc067b9e3230df8752c50d2ec
hermes-agent/website/docs/user-guide/skills/optional/finance/finance-merger-model.md
T
Teknium c49fa88b80 refactor(skills): shipped-set slim — 15 to optional, github 6-way merge, pdf absorbs OCR, channel-gated teams pipeline (index −26%) (#98539) 
* refactor(skills): shipped-set slim — 15 skills to optional, github six-way merge, pdf absorbs OCR+nano-pdf, channel-gated teams pipeline

Maintainer-directed shipped-skills curation (skills index 1,900 -> ~1,400
tok/call on desktop; every session pays the index, so this is a per-call
diet on all installs):

- optional-skills moves (installable via skills hub, history preserved):
  creative comfyui/ascii-art/excalidraw/pretext/sketch/touchdesigner-mcp;
  ALL of mlops (huggingface-hub, llama-cpp, serving-llms-vllm,
  weights-and-biases, evaluating-llms-harness — subcategory structure
  kept); research-paper-writing (55 supporting files, 17.3K-tok load);
  openhue; blogwatcher (first taught the cronjob monitor-field watch
  pattern + web_extract instead of pre-cron manual workflows)
- DELETED session-librarian (Aug-12 'inspired by Perplexity Computer'
  port, never maintainer-intended; session_search covers discovery)
- github: six skills (auth, issues, pr-workflow, issue-to-pr,
  code-review, repo-management) merged into ONE software-development/
  github skill — routing body + complete per-workflow references;
  benbarclay authorship credited; codebase-inspection rides along;
  discipline pins from test_github_issue_to_pr_skill.py preserved
  against the reference body in the new test_github_skill.py
- pdf absorbs ocr-and-documents + nano-pdf as references/ + scripts
  (extract_pymupdf, extract_marker converted to the argparse house
  standard its contract test enforces)
- NEW session_platforms frontmatter gate (metadata.hermes): hides a
  skill from the index on gateway channels it is not for; fail-open on
  unknown platform; teams-meeting-pipeline gated to [teams, cron]
- blocked-page-recovery: research -> new web category; trigger-first
  description ('Use when a fetch fails: 403/429, paywall, WAF, bot
  wall.') so the model actually reaches for it on blocked fetches
- docs regenerated via generate-skill-docs.py (195 pages); related_skills
  swept repo-wide; tests: 1672 passed (2 openclaw failures pre-existing
  on clean main, Windows-local)

* chore: ignore .skills_prompt_snapshot.json (local index cache, accidentally committed)
2026-08-30 04:53:39 -07:00

163 lines
6.1 KiB
Markdown
Raw Blame History

---
title: "Merger Model — Build M&A accretion/dilution workbooks in Excel"
sidebar_label: "Merger Model"
description: "Build M&A accretion/dilution workbooks in Excel"
---
{/* This page is auto-generated from the skill's SKILL.md by website/scripts/generate-skill-docs.py. Edit the source SKILL.md, not this page. */}
# Merger Model
Build M&A accretion/dilution workbooks in Excel.
## Skill metadata
| | |
|---|---|
| Source | Optional — install with `hermes skills install official/finance/merger-model` |
| Path | `optional-skills/finance\merger-model` |
| Version | `1.0.0` |
| Author | Anthropic (adapted by Nous Research) |
| License | Apache-2.0 |
| Platforms | linux, macos, windows |
| Tags | `finance`, `m-and-a`, `merger`, `accretion-dilution`, `excel`, `openpyxl`, `modeling`, `investment-banking` |
| Related skills | [`excel-author`](/docs/user-guide/skills/optional/finance/finance-excel-author), [`pptx-author`](/docs/user-guide/skills/optional/finance/finance-pptx-author), [`dcf-model`](/docs/user-guide/skills/optional/finance/finance-dcf-model), [`3-statement-model`](/docs/user-guide/skills/optional/finance/finance-3-statement-model) |
## Reference: full SKILL.md
:::info
The following is the complete skill definition that Hermes loads when this skill is triggered. This is what the agent sees as instructions when the skill is active.
:::
## Environment
This skill assumes **headless openpyxl** — you are producing an .xlsx file on disk.
Follow the `excel-author` skill's conventions for cell coloring, formulas, named ranges, and sensitivity tables.
Recalculate before delivery: `python /path/to/excel-author/scripts/recalc.py ./out/model.xlsx`.
# Merger Model
Build accretion/dilution analysis for M&A transactions. Models pro forma EPS impact, synergy sensitivities, and purchase price allocation. Use when evaluating a potential acquisition, preparing merger consequences analysis for a pitch, or advising on deal terms.
## Workflow
### Step 1: Gather Inputs
**Acquirer:**
- Company name, current share price, shares outstanding
- LTM and NTM EPS (GAAP and adjusted)
- P/E multiple
- Pre-tax cost of debt, tax rate
- Cash on balance sheet, existing debt
**Target:**
- Company name, current share price, shares outstanding (if public)
- LTM and NTM EPS or net income
- Enterprise value or equity value
**Deal Terms:**
- Offer price per share (or premium to current)
- Consideration mix: % cash vs. % stock
- New debt raised to fund cash portion
- Expected synergies (revenue and cost) and phase-in timeline
- Transaction fees and financing costs
- Expected close date
### Step 2: Purchase Price Analysis
| Item | Value |
|------|-------|
| Offer price per share | |
| Premium to current | |
| Equity value | |
| Plus: net debt assumed | |
| Enterprise value | |
| EV / EBITDA implied | |
| P/E implied | |
### Step 3: Sources & Uses
| Sources | $ | Uses | $ |
|---------|---|------|---|
| New debt | | Equity purchase price | |
| Cash on hand | | Refinance target debt | |
| New equity issued | | Transaction fees | |
| | | Financing fees | |
| **Total** | | **Total** | |
### Step 4: Pro Forma EPS (Accretion / Dilution)
Calculate year-by-year (Year 1-3):
| | Standalone | Pro Forma | Accretion/(Dilution) |
|---|-----------|-----------|---------------------|
| Acquirer net income | | | |
| Target net income | | | |
| Synergies (after tax) | | | |
| Foregone interest on cash (after tax) | | | |
| New debt interest (after tax) | | | |
| Intangible amortization (after tax) | | | |
| Pro forma net income | | | |
| Pro forma shares | | | |
| **Pro forma EPS** | | | |
| **Accretion / (Dilution) %** | | | |
### Step 5: Sensitivity Analysis
**Accretion/Dilution vs. Synergies and Offer Premium:**
| | $0M syn | $25M syn | $50M syn | $75M syn | $100M syn |
|---|---------|----------|----------|----------|-----------|
| 15% premium | | | | | |
| 20% premium | | | | | |
| 25% premium | | | | | |
| 30% premium | | | | | |
**Accretion/Dilution vs. Cash/Stock Mix:**
| | 100% cash | 75/25 | 50/50 | 25/75 | 100% stock |
|---|-----------|-------|-------|-------|------------|
| Year 1 | | | | | |
| Year 2 | | | | | |
### Step 6: Breakeven Synergies
Calculate the minimum synergies needed for the deal to be EPS-neutral in Year 1.
### Step 7: Output
- Excel workbook with:
- Assumptions tab
- Sources & uses
- Pro forma income statement
- Accretion/dilution summary
- Sensitivity tables
- Breakeven analysis
- One-page merger consequences summary for pitch book
## Important Notes
- Always show both GAAP and adjusted (cash) EPS where relevant
- Stock deals: use acquirer's current price for exchange ratio, note dilution from new shares
- Include purchase price allocation — goodwill and intangible amortization matter for GAAP EPS
- Synergy phase-in is critical — Year 1 is often only 25-50% of run-rate synergies
- Don't forget foregone interest income on cash used and new interest expense on debt raised
- Tax rate on synergies and interest adjustments should match the acquirer's marginal rate
## Data sources — MCP first, web fallback
Many passages below say "use the S&P Kensho MCP / Daloopa MCP / FactSet MCP". Those are commercial financial-data MCPs from the original Cowork plugin context. In Hermes:
- **If you have any structured financial-data MCP configured** (Hermes supports MCP — see `native-mcp` skill), prefer it for point-in-time comps, precedent transactions, and filings.
- **Otherwise**, fall back to:
- `web_search` / `web_extract` against SEC EDGAR (`https://www.sec.gov/cgi-bin/browse-edgar`) for US filings
- Company IR pages for press releases, earnings decks
- `browser_navigate` for interactive data portals
- User-provided data (explicitly ask when the context doesn't have it)
- **Never fabricate**. If a multiple, precedent, or filing number can't be sourced, flag the cell as `[UNSOURCED]` and surface it to the user.
## Attribution
This skill is adapted from Anthropic's Claude for Financial Services plugin suite (Apache-2.0). The Office-JS / Cowork live-Excel paths have been removed; this version targets headless openpyxl via the `excel-author` skill's conventions. Original: https://github.com/anthropics/financial-services
Reference in New Issue View Git Blame Copy Permalink