"What role does the 'unaffected price' play in calculating the control premium—and how do you determine it?” That’s just one of the many frequently-asked questions that the folks at Mergerstat receive about using their control premium. Their answer:

The unaffected price is a reflection of what the quoted market price would be for the stock of a public company prior to being manipulated by news, rumors or any corporate activity by the company.

For a free copy of all responses to the FAQ, click here. And for a transcript and/or CD of the telephone conference on Control Premia, featuring expert commentary by Aswath Damodaran (NYU), click here.