Mergers and Acquisitions (M&A)
Abschnittsübersicht
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Now that we understand the basics of the M&A process, the logical next step is to think about the actual transaction price of a deal and what valuation steps are necessary to come up with a reasonable and sustainable offer price. The logical sequence is fairly simple:
- Determine the current value of the involved firms (Stand-alone value)
- Think about how the management of the target company could be improved (Control premium)
- Try to quantify the benefits and costs that are associated with the transaction in question (Net synergy)