Valuation for M&A : building value in private companies /
Saved in:
| Author / Creator: | Evans, Frank C. |
|---|---|
| Imprint: | New York : John Wiley & Sons, c2001. |
| Description: | xiii, 298 p. : ill. ; 24 cm. |
| Language: | English |
| Series: | Wiley M&A library |
| Subject: | |
| Format: | Print Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/4684126 |
Table of Contents:
- Chapter 1. Winning through Merger and Acquisition
- Critical Values Shareholders Overlook
- Stand-Alone Fair Market Value
- Investment Value to Strategic Buyers
- "Win-Win" Benefits of Merger and Acquisition
- Chapter 2. Building Value in a Nonpublicly Traded Entity
- Value and Value Creation
- Public Company Value Creation Model
- Nonpublic Company Value Creation Model
- Measuring Value Creation
- Analyzing Value Creation Strategies
- Chapter 3. Competitive Analysis
- Linking Strategic Planning to Building Value
- Assessing Specific Company Risk
- Competitive Factors Frequently Encountered in Nonpublic Entities
- Chapter 4. Merger and Acquisition Market and Planning Process
- Common Seller and Buyer Motivations
- Why Mergers and Acquisitions Fail
- Sales Strategy and Process
- Acquisition Strategy and Process
- Due Diligence Preparation
- Chapter 5. Measuring Synergies
- Synergy Measurement Process
- Key Variables in Assessing Synergies
- Synergy and Advanced Planning
- Chapter 6. Valuation Approaches and Fundamentals
- Business Valuation Approaches
- Using the Invested Capital Model to Define the Investment Being Appraised
- Why Net Cash Flow Measures Value Most Accurately
- Frequent Need to Negotiate from Earnings Measures
- Financial Statement Adjustments
- Managing Investment Risk in Merger and Acquisition
- Chapter 7. Income Approach: Using Rates and Returns to Establish Value
- Why Values for Merger and Acquisition Should Be Driven by the Income Approach
- Two Methods within the Income Approach
- Establishing Defendable Long-Term Growth Rates and Terminal Values
- Chapter 8. Cost of Capital Essentials for Accurate Valuations
- Cost of Debt Capital
- Cost of Preferred Stock
- Cost of Common Stock
- Fundamentals and Limitations of the Capital Asset Pricing Model
- Modified Capital Asset Pricing Model
- Buildup Method
- Summary of Ibbotson Rate of Return Data
- International Cost of Capital
- How to Develop an Equity Cost for a Target Company
- Chapter 9. Weighted Average Cost of Capital
- Iterative Weighted Average Cost of Capital Process
- Shortcut Weighted Average Cost of Capital Formula
- Common Errors in Computing Cost of Capital
- Chapter 10. Market Approach: Using Guideline Companies and Strategic Transactions
- Merger and Acquisition Transactional Data Method
- Guideline Public Company Method
- Selection of Valuation Multiples
- Market Multiples Commonly Used
- Chapter 11. Asset Approach
- Book Value versus Market Value
- Premises of Value
- Use of the Asset Approach to Value Lack-of-Control Interests
- Asset Approach Methodology
- Treatment of Nonoperating Assets or Asset Surpluses or Shortages
- Specific Steps in Computing Adjusted Book Value
- Chapter 12. Adjusting Value through Premiums and Discounts
- Applicability of Premiums and Discounts
- Application of Premiums and Discounts
- Apply Discretion in the Size of the Adjustment
- Control versus Lack of Control in Income-Driven Methods
- Other Premiums and Discounts
- Fair Market Value versus Investment Value
- Chapter 13. Reconciling Initial Value Estimates and Determining Value Conclusion
- Essential Need for Broad Perspective
- Income Approach Review
- Market Approach Review
- Asset Approach Review
- Value Reconciliation and Conclusion
- Candidly Assess Valuation Capabilities
- Chapter 14. Art of the Deal
- Unique Negotiation Challenges
- Deal Structure: Stock versus Assets
- Terms of Sale: Cash versus Stock
- Bridging the Gap
- See the Deal from the Other Side
- Chapter 15. Measuring and Managing Value in High-Tech Start-Ups
- Key Differences in High-Tech Start-Ups
- Value Management Begins with Competitive Analysis
- Quantifying the Value of a Start-Up Company
- Need for Additional Risk Management Techniques
- Reconciliation of Value
- Chapter 16. Merger and Acquisition Valuation Case Study
- History and Competitive Conditions
- Potential Buyers
- General Economic Conditions
- Specific Industry Conditions
- Growth
- Computation of the Stand-Alone Fair Market Value
- Computation of Investment Value
- Suggested Considerations to Case Conclusion
- Index
