New edition of book on valuation for M&A
Now in its 3rd edition, Valuation for M&A: Building and Measuring Private Company Value lays out the steps for measuring and managing value creation in non-publicly traded entities.
New guidance for AI fund valuations
The Alternative Investment Management Association (AIMA) and its private credit affiliate, the Alternative Credit Council (ACC), have published new guidance for fund managers in valuing their investments.
Valuations frustrate RIAs
A survey of the nation’s top registered investment advisors (RIAs) by PPB Capital Partners found that firms are encouraged to provide customized alternative investment solutions for high-net-worth clients, but such funds are unwieldy and expensive to operate.
Expert’s Valuation of Pork Trademarks Fails to Account for IP’s Limited Use
Court rejects USDA’s decision to keep paying for pork-promoting trademarks that mostly have become functionally obsolescent and replaced by a different slogan; expert’s replacement cost approach to find current value of trademarks is illogical, says court.
Humane Soc’y of the United States v. Perdue
Court rejects USDA’s decision to keep paying for pork-promoting trademarks that mostly have become functionally obsolescent and replaced by a different slogan; expert’s replacement cost approach to find current value of trademarks is illogical, says court.
The Price to Value Disconnect: No End in Sight
We attended the EuroGrowth 2017 conference in London, and here are some interesting observations.
Statutory Fair Value in Dissenting Shareholder Cases: Part II
This article continues the discussion of statutory appraisal that was presented in Part I in the prior issue of Business Valuation Review. Fair value, the predominant standard of value employed by state courts to value dissenters' shares in appraisal cases is, is determined by state law. In most states, fair value is the shareholder's pro rata portion of the value of a company's equity. This article discusses the approaches used by the Delaware courts' views ...
Appraiser Lacks Necessary Valuation Expertise, Dissent Says
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Appraiser Lacks Necessary Valuation Expertise, Dissent Says
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Shaffer v. Visaggio’s, Inc. (I)
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
Shaffer v. Visaggio’s, Inc. (II)
Court majority finds appointed appraiser’s fair value determination meets legal requirements applicable to dissenting shareholder proceeding; dissent says appraiser lacked valuation expertise and ignored proper business valuations from parties’ experts.
RERI Holdings I, LLC v. Comm’r
Tax Court denies IRS’s summary judgment motion to disallow claimed charitable deduction arguing taxpayer’s appraiser improperly valued donated interest in LLC using present-value Section 7520 tables and failed to submit “qualified appraisal.”
Evolving standards of value in marital property disputes
The standard of value in marital dissolution cases is determined on a state-by-state basis, and the correct standard to apply is not always clear. In this reader/ed submission, Dave Maschino ...
Expert dubbed "unpersuasive" rebuts Judge Laro's rejection
I have reviewed the write up of Estate of Kaufman in the May issue of your newsletter, and I am very concerned that it unfairly portrays me as having not done a credible valuation because it takes Judge Laro's criticisms of my report at face value.
Specific company risk factor
In Dr. Pratts book, there is (page 76) "The Specific Risk Factor" and the "Expanded CAPM Cost of Capital Formula." This is a very basic question: The use of the expanded model, which include ...
A treatise on strategic value
The primary difference between this and other valuation books is its emphasis on strategic value, the value to the party to whom the business is most valuable. It discusses how to build strategic value, how to measure strategic value, and how to find and deal with a strategic buyer.
Effective use of the business appraiser in a divorce case
A Florida jurist who has presided in both criminal and family court describes the difference in litigants by noting, "In criminal court one can see bad people on their best behavior. In family co ...
Why use real options?
"The Economic Analysis of Real Option Value," Robert P. Schweihs, Willamette Management Associates Insights , Autumn 1999, pp. 12-18. "Real option" is a less-than-descriptive term for a concept rec ...
Surviving a divorce engagement
This article offers a highly condensed primer for divorce engagements. It will be useful both to those approaching such engagements for the first time and also as a review for experienced practitioner ...
'Excess Capital' Issue in Dissent Case
Marks Berens, minority shareholder in Marquette Bank Shakopee, was required to surrender his shares pursuant to a consolidation by the majority shareholder of the bank (a bank holding company).
Berens v. Ludwig
At issue is the valuation of the plaintiff's minority interest in a national bank.
ASA meeting brings fresh insights to business valuation professionals
n VALUATION FROM A FIDUCIARY PERSPECTIVE Norman P. Goldberg, J.D. U.S. Trust Co. Washington, D.C. Norman predicted that the 9th Circuit Court of Appeals decision in the case of Howard ...
Marketability discounts are real
Rand M. Curtiss in his article, "A Practical Methodology for Determining Premiums and Discounts," December, 1997, Business Valuation Review , stated what many others have opined ...
Utah Looks to Other States' Precedents in Dissent Case of First Impression
This is the case of first impression under Utah's dissenting stockholder statute, Utah Code Ann. s 16-10a-1302 (1995), conferring on dissenting stockholders the right to receive "fair value."