Identifying pool of willing buyers may introduce synergy to fair market value

Business Valuation UpdateVol. 7 No. 4
April 2001
Roger J. Grabowski, FASA
discounted cash flow (DCF), fair market value (FMV), synergy


How many times have we, valuation consultants, read the definition of fair market value 1 and then arrived at an opinion of value without focusing on the characteristics of the "willing buyer"?