Last round of interview coming up for an analyst/associate role in IB M&A. I have 2 years of experience in Big4 M&A. The previous interview round was very technical, and the last round will be a ”business case”, which lasts about 3.5 hours, including a short introduction, 2-hour preparation, and a presentation. They will provide me the PC. What would you expect an IBD case study to be like? I’m not sure if I have to build everything from scratch or if I can use some ready-made layouts.

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I’m not sure whether I should prepare by making sure that I know every detail so that I can build everything without any reference material, or by taking a little broader scope and refreshing my memory about basic concepts of DCF/LBO/merger model/etc.

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