| 1 | 11/1/2005 | BVResearch |
Financial Adviser Procedures to Help Clients Avoid Overpaying in Mergers and Acquisitions
Both a corporation's board of directors (or management) and a corporation's financial adviser should be interested that an acquirer does not pay more than a fair market value price in a merger and acquisition (M&A) transac-tion. This concern is appropri...
Robert P Schweihs
Willamette Insights (4,514 words)
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| 2 | 2/1/2001 | BVResearch |
Valuation and Financing Feasibility of Qualifying Targets
Once an acquiring company has identified a potential acquisition target, it must determine: (1) a reasonable purchase price (or range of prices); (2) the terms of payment related to the potential acquisition (i.e., will the acquiring company offer cash...
Eric A Thornton
Willamette Insights (3,006 words)
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| 3 | 2/1/2001 | BVResearch |
Preparation of an Offering Memorandum
An offering memorandum (ômemorandumö) is a valuable instrument often relied upon to facilitate the restructuring, refinancing, or sale of a company. The objective of a memo-randum is simple: to provide a realistic portrait of the histori-cal and prospec...
Charles Wilhoite, Bobbie Jenkins
Willamette Insights (7,521 words)
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| 4 | 7/15/2003 | BVResearch |
Placing a Value on Synergies and Strategic Advantage
Post-acquisition synergies and "strategic advantage" form an important component of the price paid in many open market transactions. However, following a transaction, many purchasers have found that the anticipated benefits were not realized to the extent...
Howard E Johnson
CICBV Publications (12,281 words)
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| 5 | 5/1/2004 | BVResearch |
Corporate Acquirer Procedures to Avoid Overpricing M&A Transactions
Corporate acquirers often pay too much in merger and acquisition (M&A) transactions. For purposes of this discussion, we will define ôpay too muchö as: 1. pay a total consideration in excess of the target company fair market value, 2. pay a to...
Robert F Reilly, Robert P Schweihs
Willamette Insights (4,408 words)
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| 6 | 11/1/2009 | BVResearch |
HEALTH CARE SYSTEM ACQUISITIONS OF MEDICAL PRACTICES
Acquisitions of medical practices by health care systems, particularly tax-exempt health care systems, appear to be on the rise currently. This is because health care systems throughout the country are continuing their strategic efforts to position themse...
Willamette Insights (5,327 words)
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| 7 | 5/1/2003 | BVResearch |
Current Issues in the Valuation of Purchased IPR&D
The valuation of in-process research and development (IPR&D) purchased in a business combination remains a complicated analysis. There are fewer acquisitions of technology companies (including hardware/software, internet, and dot-com compa¡nies) today t...
Dennis Mandell, Robert F Reilly
Willamette Insights (7,153 words)
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| 8 | 11/13/2006 | BVResearch |
Control Premia
July 27, 2006 Teleconference Transcript; Panel: Aswath Damodaran (Moderator), Kenneth Woo and Anna Berthelius...
Aswath Damodaran, Kenneth Woo, Anna Berthelius
Teleconference Transcripts (16,366 words)
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| 8 | 2/1/2006 | BVResearch |
The Use and Misuse of M&A Transactions in Closely Held Business/Stock Valuations for Estate Planning/Estate Tax Purposes
There are numerous reasons to value closely held and fami-ly-owned businesses and business interests within an estate planning context. When asked to estimate the fair market value of a closely held business interest, analysts often rely on the market a...
Charles Wilhoite
Willamette Insights (4,586 words)
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| 10 | 2/1/2003 | BVResearch |
C Corporations with Appreciated Assets: Valuation Discount for Built-In Capital Gains
The valuation of a C corporation is a common valuation assign-ment. Experienced analysts routinely value 100 percent of the stock of a C corporation for such purposes as: merger and acquisition pricing; estate and gift tax planning and compli-REVIEW OF...
Jacob Roosma
Willamette Insights (4,630 words)
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| 11 | 10/25/2001 | BVResearch |
Valuation Issues Across U.S./Canadian Lines
Click here to download the PDF(1.7Mb) of the presentation.
Richard M Wise
Presentations
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| 12 | 6/30/2010 | BVResearch |
Control Premiums: Applications & Analysis
Control Premiums: Applications & Analysis Teleconference Handbook April 29, 2010 Presenters: Brad Pursel, CPA/ABV, CFA, ASA Mark J. Edwards, CPA/ABV, CFA Andrew S. Fargason, CFA Please note: This Handbook does not qualify for self study CPE credit...
Teleconference Transcripts (22,052 words)
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| 13 | 2/1/2006 | BVResearch |
S Corporation ESOPs Create Investment, Acquisition, and Exit Strategy Opportunities for Private Equity Groups
Leveraged ESOPs are now being used by venture capital and private equity firms (collectively, ôprivate equity groupsö) as an investment platform and as an exit strat¡egy. A number of private equity groupsùand the manage¡ment teams within their portfol...
William W Merten
Willamette Insights (4,035 words)
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| 14 | 6/29/2007 | BVResearch |
THE BUYER’S ACQUISITION STRATEGY & TACTICS
OVERVIEW Most industry buyers have an acquisition strategy that principally focuses on synergistic targets relative to their products and services. Financial buyers such as private equity groups (PEGs) usually consider themselves opportunistic and new id...
Articles (1,290 words)
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| 14 | 12/3/2001 | BVResearch |
Fair market or strategic value when consolidators are at work
Click here to download the PDF of the presentation. This includes any graphs or pictures not in the text only version below. FAIR MARKET OR STRATEGIC VALUE WHEN CONSOLIDATORS ARE AT WORK 20...
Mark O Dietrich
Presentations (2,331 words)
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| 16 | 8/1/2006 | BVResearch |
Current Controversies Related to Fairness Opinions and 'Independent' Financial Advisory Firms
Fairness opinions are the opinion of a financial adviser that the price of a prospective transaction is fair from a financial point of view. The objectivity of transactional fairness opin-ions is an issue that has recently received a good deal of attent...
Craig A Jacobson
Willamette Insights (3,444 words)
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| 16 | 8/1/2004 | BVResearch |
Do M&A Transaction Prices Reflect Market Value for Property Tax Valuations?
Both taxing authorities and taxpayers often use the market approach to estimate unit values for ad valorem tax purposes. The unit valuation (versus the summation valuation) concept is often applied in the mass appraisal of centrally assessed industrial...
Timothy Meinhart, Michael Storms
Willamette Insights (3,647 words)
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| 18 | 11/1/2004 | BVResearch |
Avoidance and Resolution of Post-Acquisition Disputes
In todayÆs volatile economic environment, the price a buyer is willing to pay for a business is often a moving target right up to the transaction closing date. Many acquisition agreements contain provisions that create a post-closing adjustment to the d...
James O'Sullivan
Willamette Insights (4,005 words)
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| 19 | 7/16/2008 | BVResearch |
Maxwell v. KPMG, LLP
It’s unusual for a court to suggest, without any apparent prompting by the parties, that the claims before it are frivolous. But the Seventh Circuit federal court of appeals was so "disturbed" by a bankruptcy trustee’s damages assertion—and the expert ev...
Court Case Abstracts (1,149 words)
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| 19 | 2/8/2008 | BVResearch |
An Overview of SFAS 141R
The Financial Accounting Standards Board released a revised version of Statement of Financial Accounting Standards No. 141, Business Combinations, ("SFAS 141R") on December 7, 2007. While the standard will not be effective for most practitioners until...
Mercer Capital’s Value Matters (1,200 words)
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