A new article by Mercer Capital in Valuation Matters provides a comprehensive FAQ on fairness opinions in ESOP transactions. Among the most important is a list of over 20 ESOP transactions that might trigger the need for a fairness opinion—a good reminder for ESOP specialists and their clients. “Despite the breadth of the listed circumstances, there are many other situations which likely accompany ESOP transactions and transactions of ESOP owned companies,” the article advises. Any ESOP-related financial transaction “should be thoroughly reviewed from the financial perspective of the ESOP. The transaction process, evolution, negotiations, and other factors that comprise the event (and any circumstances) should be systematically analyzed and documented within the fairness opinion.”