Valuation for M&A: Building Value in Private Companies - Rilegato

Evans, F. C.; Bishop, David M.

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9780471411017: Valuation for M&A: Building Value in Private Companies

Rilegato

ISBN 10: 0471411019 ISBN 13: 9780471411017

Casa editrice: John Wiley & Sons Inc, 2001

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The only resource available to help calculate investment value versus fair market value

Whether buying or selling, the question of "what's it worth?" is multifaceted. In an M&A setting, it is necessary to compute fair market value, but it is far more important to compute investment value-the value of the target company to a strategic buyer. This calculation varies with each prospective buyer, depending on synergies, benefits, and other competitive analyses that are seldom involved in business valuation. Valuation for M&A is the first book to focus on valuation for merger and acquisitions. This groundbreaking guide provides document request checklists, sample interview questions, a format for adjusting financial statements, a format for developing discount rates, a format for computation of net cash flow, and a valuation reconciliation form, all to help senior executives and M&A professionals better negotiate a successful deal.

Frank C. Evans is a certified business appraiser (CBA), Accredited Senior Business Appraiser in Business Valuation (ASA), and CPA (accredited in business valuation) and David M. Bishop is a Master Certified Business Appraiser (MCBA), Accredited Senior Business Appraiser in Business Valuation (ASA), Fellow of the Institute of Business Appraisers (FIBA), and Business Valuator Accredited for Litigation (BVAL).

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L'autore:

FRANK C. EVANS, a principal in Smith Evans Strimbu, Valuation Advisory Services, is a Certified Business Appraiser (CBA), an Accredited Senior Appraiser in Business Valuation (ASA), and a Certified Public Accountant/ Accreditedin Business Valuation (CPA). He works with middle market through Fortune 100 companies and has spoken at valuation seminars and conferences throughout North America and Europe. He is Editor of Business Appraisal Practice, published by the Institute of Business Appraisers, and has authored numerous articles. He is the recipient of several prestigious awards, including admission to the College of Fellows of the Institute of Business Appraisers. He can be contacted at fevans@SESValuations.com

Dalla seconda/terza di copertina:

There is too much mystery about what companies are worth. And there are too many bad investment and operational decisions made as a result. The problem is especially acute in the case of a private company that lacks the guidance of a stock market price. But accurate valuations are possible, and M&A deals can succeed for both buyers and sellers.

The authors of this book have provided valuation advisory services to hundreds of companies and thousands of corporate executives. Through their experience, they have developed techniques to accurately measure and successfully build value in companies. In Valuation for M&A: Building Value in Private Companies, they provide owners and managers of private companies and their prospective buyers with the tools to determine what their company's value is, what drives that value, and how to enhance that value during an M&A and in daily operation-even when no stock price exists.

Written for business appraisers, CPAs, investment bankers, venture capitalists, and consultants, as well as for investors and managers of nonpublicly traded entities, this book is a toolkit of solutions for valuation and return on investment questions. It is also a road map to building value when operating a company and selling or buying one. Senior managers in most public companies focus on value every day, for their performance is reflected in the daily scorecard of their stock price. But private companies lack this market feedback. As a result, many private companies lack direction and underperform.

Valuation for M&A lays out the steps for measuring and managing value creation in nonpublicly 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. It provides a detailed guide for sellers and buyers to prepare for the sale and acquisition of a firm, spelling out how to identify, quantify, and qualify the synergies that increase value to strategic buyers.

Complete with a comprehensive case study to illustrate concepts and calculations, Valuation for M&A fills a gap that has long stymied both sides of the M&A equation, handing owners, managers, and strategic buyers the first effective methodology for measuring and building the value of a private company and ensuring that everyone gains the maximum benefit from the deals they make.

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