The only book to focus on valuation specifically for merger and acquisitions, Valuation For M&A: Building Value in Private Companies, Second Edition lays out the steps for measuring and managing value creation in privately held businesses.
- Recognizes a company as an investment and explains how to manage that value to maximize shareholder returns, focusing on returns, risks, and capital invested
- Explains investment or strategic value versus fair market value and provides a document request checklist; sample interview questions; and formats for adjusting financial statements, developing discount rates, the computation of net cash flow; and a valuation reconciliation form
- Includes a comprehensive case study to illustrate concepts and calculations
- Now covers fair value accounting and the impact of SFAS Nos. 141, 142, and 157 and their IFRS counterparts, intangible asset valuation techniques, exit planning, international M&As, and venture backed/early stage companies
Showing corporate executives as well as M&A professionals and business appraisers how to value privately-held businesses for merger and acquisition purposes, this book helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value to maximize return on investment.
Keywords: Frank Evans, Delphi Valuation Advisors, Evans and Associates, American Business Appraisers, American Society of Appraisers, ASA, Institute of Business Appraisers, IBA, Valuation for Mergers and Acquisitions, the art of M&A, business valuation, intangible asset valuations, business combinations, purchase price allocations, fair value accounting, goodwill impairment, exit planning, succession planning, private capital markets, start up companies, early stage companies, private company value, valuation based strategic planning, techniques for mitigating financial, termination pay plan, cost basis transaction, tax contest, prospective cost basis, prospective carryover basis, acquired corporation stock, takeback financing, major intangible asset class, pushdown accounting, junior lender, due diligence inquiry, subordination provisions, basket amount, times free cash flow, material business combination, bridge lender, postmerger integration, intercreditor issues, tender offer materials, distressed entity, reduced treaty rate, involving public companies, acquisition agreement, indemnifying party, Shannon P. Pratt, Alina V. Niculita, analyzing financial statements, capitalized economic income method, litigation support services, financial valuation, minority value, family limited partnerships, advisory opinions, corporation stock, valuing businesses, convertible securities, corporation records, financial statement analysis, fairness opinions, investment limited partnership, real economy, national litigation, standard industry classification, control premiums, lack of control, lack of marketability, global evidence, valuations for specific purposes, future economic income method, business valuation approaches, asset accumulation method, discounted cash flow, transaction multiple method, market multiple method, capitalized excess earnings method, weighted average cost of capital, WACC, discount rate, capital asset pricing model, CAPM, build-up method, return on investment, ROI