Business Valuation Update

In the July 2022 issue:
  • An Actual Brand Valuation Report a Court Rejected as ‘Speculative’
  • Highlights From the 2022 NYSSCPA BVLS Conference
  • How Judges Compare Competing DCF Analyses
  • Misusing the Market Prices of High-Vote Shares When Estimating a Discount for Lack of Voting Rights, Gilbert E. Matthews
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Welcome to Business Valuation Update
The Business Valuation Update (BVU) has been the voice of the valuation profession since its inception in 1995. Each monthly issue includes new thinking from leading professionals, detailed reports from valuation conferences, analysis of new business valuation approaches, coverage of “landmark” legal cases in key business valuation issues, regulatory and standards updates, and much more!  Learn more and subscribe >>
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Valuation of Dual Class Shares

The high-profile class action lawsuit between minority shareholders and Hollywood icon Jeffrey Katzenberg over the additional consideration being paid to him in the sale of DreamWorks to Comcast  puts the spotlight on “dual class” companies. Dual class c ...

Misusing the Market Prices of High-Vote Shares When Estimating a Discount for Lack of Voting Rights

When analysts estimate a valuation discount for the lack of voting rights in the stock of a private company, they typically look to the public market. Many studies have compared the market prices of publicly traded high-vote shares with the market prices of publicly traded low-vote shares. Unfortunately, when the inputs into these studies are examined, the emperor has no clothes.

Reader Question: How Much Is a Discount for Lack of Voting Rights?

In response to a reader question, we put the BVResearch Pro platform to work to reveal what the studies, valuation textbooks, and court cases say about a discount for nonvoting stock—more than enough material to estimate and substantiate an opinion.

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