Book Review Middle Market M&A: Handbook for Investment Banking and Business Consulting was written by Kenneth Marks, Robert Slee, Chris Blees and Michael Nall and published by John Wiley and Sons. None of the authors are strangers to middle-market M&A. There are numerous books that deal with mergers and acquisitions. Does the body of literature […]
read moreUsing the Fair Market Valuation and the seller’s asking price as a starting point, there are seven critical factors that will influence the premium or discount to be applied in reaching a negotiated purchase price package. These seven factors include: The types of buyer. Financial parameters. The general attractiveness of the company. The relative negotiation […]
read moreBook Value is the difference between a company’s Assets and Liabilities as stated on the current Balance Sheet. Book Value is an accounting term and does not provide a meaningful measure of the business value. Liquidation Value is the net amount that would be realized if the business terminated and the assets are sold piecemeal. […]
read moreThe August 2008 issue of Mergers & Acquisition magazine contains an interesting article entitled Refining Ebitda. The sub-title is: “Who knew Ebitda had so many definitions? As deal pros, lenders and companies fight it out in negotiations, the earnings yardstick often gets distorted.” So, the headline says EBITDA is a measure of earnings—simple enough. But […]
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