Frank C. Evans Knihy

Discover the essential tools to assess your company's value, understand what drives it, and enhance that value during an M&A transaction. This unique resource focuses specifically on valuation for mergers and acquisitions, outlining steps for measuring and managing value creation in privately held businesses. The authors, Chris M. Mellen and Franck C. Evans, were recognized as the joint 2010 AM&AA Middle Market Thought Leader of the Year for their contributions to the field. The book emphasizes viewing a company as an investment and managing its value to maximize shareholder returns, addressing returns, risks, and capital invested. It differentiates between investment or strategic value and fair market value, providing a document request checklist, sample interview questions, and formats for adjusting financial statements, developing discount rates, computing net cash flow, and reconciliation. A comprehensive case study illustrates key concepts and calculations. The updated edition includes fair value accounting, the impact of SFAS Nos. 141, 142, and 157, intangible asset valuation techniques, exit planning, international M&As, and considerations for venture-backed or early-stage companies. This resource is invaluable for corporate executives, M&A professionals, and business appraisers aiming to optimize market and strategic value to enhance return on investment.

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).