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 | | Valuation for M&A: Building Value in Private Companies by Frank C. Evans, David M. Bishop ISBN-10: 9780471411017 ISBN-10: 0-471-41101-9 ISBN-13: 9780471411017 ISBN-13: 978-0-471-41101-7 Hardcover 2001-09-14 Wiley Find Lowest Price |
Editorials | ||
Product Description 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). | ||
Reviews | ||
definitively a bad book I have carried out several valuations in real life and am very familiar with the terminology and methods commonly used to valuate a company. This book unfortunately has not meet my expectations at all. It is very confusing and lacks of clear structure, especially when describing the DCF method, WACC and all other valuation key parameters. Extremely dissapointing. | ||
Valuation Approach Overview This book provides a good overview of how to value a private company in a merger or acquisition. It provides a solid guide on how to do a comprehensive private business valuation but glosses over the details within the various valuation methods. | ||
Practical, accurate, hands-on book I'm working on acquisitions of small to medium sized private companies. I found this book to be very practical in going through not just the valuation math, but also the considerations. The book gives a great overview of the whole process, with ideas of how to get more precise with things like Monte Carlo and Real options. On the core pieces, there is a careful step through of multiperiod DCF including terminal value which is very helpful. Also there is a lot of talk about discount rates which I found very helpful. The book concludes with a thorough valuation example that is adapted from a real transaction. It provides a great way to pull together all of the knowledge in the book. I'd also recommend "Analysis for Financial Management" in addition to this book, for its in depth treatment of key financial fundamentals, including DCF valuation. | ||
"How-To" Apply Solid Valuation Theory This book meets important needs of buyers, sellers, valuation analysts, and owners of private companies who want to build value in them. Here are just a few of the important functions that the reader will learn: 1. How to apply solid valuation theory. Provides the best treatment of many valuation issues that I have seen. This set of benefits goes far beyond M&A valuation settings. And...the authors communicate their insights and methods very clearly. Most readers will find this book one of the best investments they have made. | ||
Must read for business owners, valuators and M&A people I am a professional business valuator and had a good understanding of the valuation process before I read this book. However, I did not know much about mergers & acquisitions (M&A). After reading "Valuation for M&A" I not only gained a clear understanding about M&A, but I got many additional insights into valuation work as well! Mr. Evans and Mr. Bishop break their book down into 16 well constructed chapters that take you through valuations for M&A step by step, with each step building on the previous one. They then tie it all together at the end of the book and provide an excellent case study as a bonus. The case study alone is worth the price of the book. This is a must read for business valuators, M&A professionals and business owners thinking about buying a new business or selling the one they own now. | ||