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Informationen zum Autor 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 . Klappentext A business must measure its value potential in order to grow and succeed. Companies that trade on a stock exchange can easily see their market value day to day, but private companies are far more challenged in gauging their value, which further complicates the tricky negotiations involved in mergers and acquisitions (M&A). Valuation for M&A remains the only authoritative guide on the market for executives and investors who want to know both the fair market value and investment value of a closely-held business. This revised and expanded Third Edition presents a fully up-to-date road map to measuring value in businesses being considered for sale and purchase, as well as growing value in a company's daily operations. New coverage brings you up to speed on all the changes in the marketplace, including how to accurately value knowledge-based assets and how to value businesses with a global perspective. This dependable resource now features a streamlined, quick-reference format to seamlessly answer your everyday questions on: Negotiating toward a win-win outcome in any M&A transaction--as a buyer and a seller Building company value leading up to an M&A transaction by conducting both quantitative and qualitative assessments Mastering a valuation skillset specific to M&A, including exit planning, deal structuring, fairness opinions, and financial reporting This new edition also offers fresh discussions on cost of capital, including the Duff & Phelps Risk Premium Report Size Study and the Private Cost of Capital. Finally, there are new contributions by Ken Sanginario on "Using Specific Company Risk Strategically" and Justin Johnson on "Disciplined and Thorough Valuation Analysis are Key to Avoiding Failed M&A Deals." Know for certain whether selling or buying a company is the right strategic move with Valuation for M&A, Third Edition . Inhaltsverzeichnis Preface xi Dedication and Acknowledgments xv PART I Introduction 1 Chapter 1 Winning through Mergers and Acquisitions 3 Critical Values Shareholders Overlook 5 Stand-Alone Fair Market Value 6 Investment Value to Strategic Buyers 8 Win-Win Benefits of Merger and Acquisition 10 Computation of Cavendish's Stand-Alone, Fair Market Value 11 Investment Value to Strategic Buyer 12 PART II Building Value 15 Chapter 2 Building Value and Measuring Return on Investment in a Private Company 17 Public Company Value Creation Model 17 Computing Private Company Value Creation and ROI 19 Analyzing Value Creation Strategies 35 Chapter 3 Market and Competitive Analysis 41 Linking Strategic Planning to Building Value 43 Assessing Specific Company Risk 48 Competitive Factors Frequently Encountered in Nonpublic Entities 53 Financial Analysis 54 Conclusion 59 Chapter 4 Merger and Acquisition Market and Planning Process 61 Common Seller and Buyer Motivations 64 Why Mergers and Acquisitions Fail 65 Sales Strategy and Process 67 Acquisition Strategy and Process 78 Due Diligence Preparation 86 Chapter 5 Measuring Synergies 91 Synergy Mea...
