Valuation for M&A : building value in private companies /

Saved in:
Bibliographic Details
Author / Creator:Evans, Frank C.
Imprint:New York : John Wiley & Sons, c2001.
Description:xiii, 298 p. : ill. ; 24 cm.
Series:Wiley M&A library
Format: Print Book
URL for this record:
Hidden Bibliographic Details
Varying Form of Title:Valuation for M & A
Valuation for M and A
Other authors / contributors:Bishop, David M., 1940-
ISBN:0471411019 (cloth : alk. paper)
Notes:Includes index.
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