Valuation for M&A (eBook)

Building and Measuring Private Company Value

Frank C. Evans, Chris M. Mellen (Autoren)

eBook Download: PDF

2018 | 3. Auflage
496 Seiten
Wiley (Verlag)
978-1-119-43734-5 (ISBN)

Infos

Determine a company's value, what drives it, and how to enhance value during a M&A Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment. As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a floor value for the seller since it by definition represents a value agreed upon by any hypothetical willing and able buyer and seller. But for M&A, it is more important to compute investment value, which is the value of the target company to a strategic buyer (and which can vary with each prospective buyer). Prepare for the sale and acquisition of a firm Identify, quantify, and qualify the synergies that increase value to strategic buyers Get access to new chapters on fairness opinions and professional service firms Find a discussion of Roger Grabowski's writings on cost of capital, cross-border M&A, private cost of capital, intangible capital, and asset vs. stock transactions Inside, all the necessary tools you need to build and measure private company value is just a page away!

Autor

CHRIS M. MELLEN is a managing director with Valuation Research Corporation who leads its Boston office. Previously, he was president of Delphi Valuation Advisors, Inc., which he founded in 2000 and sold to VRC in 2015. Mellen is the author of numerous articles on valuation-related topics and coauthor of the second edition and author of the third edition of Valuation for M&A. FRANK C. EVANS is the founder of Evans and Associates Valuation Advisory Services. A prolific educator and speaker, he is coauthor of the first and second editions of Valuation for M&A.

Inhalt

Preface

Dedication and Acknowledgements

I. Introduction

1. Winning through Mergers and Acquisitions

II. Building Value

2. Building Value and Measuring Return on Investment in a Private Company

3. Market and Competitive Analysis

4. Merger and Acquisition Market and Planning Process

5. Measuring Synergies

III. Measuring Value

6. Valuation Approaches and Fundamentals

7. Income Approach: Using Expected Future Rates to Establish Value

8. Cost of Capital Essentials

9. Weighted Average Cost of Capital

10. Market Approach: Using Guideline Public Companies and M&A Transactions

11. Asset Approach

12. Adjusting Value through Premiums and Discounts

13. Reconciling Initial Value Estimates and Determining Value Conclusion

IV. Specialty Issues

14. Exit Planning

15. Art of the Deal

16. Fairness Opinions

17. M&A and Financial Reporting

18. Intangible Asset Valuation

19. Measuring and Managing Value in High-Tech Start-ups

20. Cross-Border M&A

V. Case Studies

21. Merger and Acquisition Valuation Case Study - Distribution Company

22. Merger and Acquisition Valuation Case Study - Professional Services Firm

About the Authors

Index

Produkt-Details

• Erscheint lt. Verlag: 16.4.2018
• Reihe/Serie: Wiley Finance Editions
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Planung / Organisation
• Schlagworte: Accounting • Bewertung • Corporate Finance • Rechnungswesen • Valuation
• ISBN-10: 1-119-43734-2 / 1119437342
• ISBN-13: 978-1-119-43734-5 / 9781119437345