Valuation for M&A: Building and Measuring Private Company Value, Third Edition
- 9h 18m
- Chris M. Mellen, Frank C. Evans
- John Wiley & Sons (US)
- 2018
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!
About the Authors
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.
Laying out the steps for measuring and managing value creation in non-publicly traded entities, this book helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment.In this Book
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Winning Through Mergers and Acquisitions
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Building Value and Measuring Return on Investment in a Private Company
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Market and Competitive Analysis
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Merger and Acquisition Market and Planning Process
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Measuring Synergies
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Valuation Approaches and Fundamentals
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Income Approach—Using Expected Future Returns to Establish Value
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Cost of Capital Essentials
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Weighted Average Cost of Capital
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Market Approach—Using Guideline Public Companies and M&A Transactions
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Asset Approach
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Adjusting Value through Premiums and Discounts
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Reconciling Initial Value Estimates and Determining Value Conclusion
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Exit Planning
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Art of the Deal
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Fairness Opinions
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M&A and Financial Reporting
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Intangible Asset Valuation
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Measuring and Managing Value in High‐Tech Start‐Ups
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Cross‐Border M&A
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Merger and Acquisition Valuation Case Study – Distribution Company
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Merger and Acquisition Valuation Case Study – Professional Services Firm
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Glossary
