Matter of Adelstein v. Finest Food Distributing Co. (II)
Appeals court affirms trial court’s valuation of oppressed shareholder’s minority interest in family business based on credentialed appraiser’s “clear, thorough, professional, and reliable” opinion and knowledge of New York valuation-related law.
Matter of Adelstein v. Finest Food Distributing Co. (I)
In oppressed shareholder stock valuation proceeding, trial court credits testimony of credentialed appraiser, lauding his methodical approach, use of various methods to cross-check values, and understanding of legal principles related to valuation.
Use rules of thumb with caution, not as a primary appraisal method
The first thing to say about rules of thumb is that they should practically never be relied on as a primary appraisal method. Having said that, if there are valuation rules of thumb for an in ...
Valuation multiples hit 4-year low in 1st quarter 2002
For the first quarter of 2002, median valuation multiples for acquisitions tumbled to their lowest levels since Business Valuation Resources has been tracking them for both Mergerstat/Shannon Pratt's ...
Market data for M&A
How to Use Transactional Databases for M&A , Shannon P. Pratt, The Journal of Corporate Accounting & Finance , March/April 2002, pp. 71-79. In M&A, it is helpful to compare th ...
Using the transaction method
The Transaction (Merger and Acquisition) Method , Kyle Garcia , National Litigation Consultants' Review , March 2002, pp. 1-3. The transaction (or merger and acquisition) method is often the mos ...
Smaller companies have much higher cost of capital than big companies; Pratt's Stats multiples strikingly different
A new study on the Pratt's Stats database shows consistently lower valuation multiples for small companies than for "middle market" companies. The top company in the 10th size decile of Ibbotson ...
Mergerstat / Shannon Pratt's Control Premium Study and Mergerstat® Review are two distinct services
One of the questions I am asked frequently is, What is the difference between Mergerstat/Shannon Pratt's Control Premium Study ( Control Premium Study ) and Mergerstat® Review? This column addres ...
TIC/EBITDA multiples up sharply in third quarter 2001
The third quarter 2001 Mergerstat/Shannon Pratt's Control Premium Study shows a sharp jump in median multiples paid compared with the previous three quarters. The median Total Invested Capital (TIC ...
2001 in review: BVU and J&L combine; active year in court
Databases proliferate; seven new BV books; market multiples drop As a result of subscribers' feedback from focus groups and reader surveys in 2001, we have decided to combine Judges & Lawyer ...
Eight reasons why FMV is insufficient to motivate a business owner to sell
For over 25 years, Jeff Jones has been involved in both the appraisal and selling of businesses. He is a designated member of the American Society of Appraisers (ASA), the Institute of Business A ...
www.BVMarketData.com sm expands
By Doug Twitchell * In addition to the newsletter you are now reading, Business Valuation Resources, LLC , also brings you several other business valuation-oriented products at www.BVMarket Dat ...
New book analyzes small business transaction data
Transaction Patterns is a very interesting and useful book for both the business appraiser and the business broker. The data is compiled from the BIZCOMPS database, but similar analysis could be done on The IBA Market Database and Pratt's Stats, and I believe that results would be similar.
Ignoring non-compete and/or employment agreements often causes overvaluations
An important adjustment that many business appraisers, attorneys, and courts often overlook is the deduction of the value of a non-compete agreement and/or employment agreement in reaching a conclusio ...
Our editor-in-chief chronicles five years of Business Valuation Resources activities; Many milestones in half a decade
It's been a busy five years for me since the first issue of this newsletter in October 1995! When Stacy Ison first suggested that I write a five-year anniversary column, I hadn't fully realized ...
New Web site: BVResources.com
We are excited to announce the launch of our new Web site, BVResources.com, launching in June, and our "grand opening" celebration will be Thursday, June 22. We encourage you to access it and explore ...
Getting into the root of it with Arizona's largest dental broker
In 1992, when Pepper Veatch was working as a financial consultant with Patterson Dental Group, a dental client with whom she was working told her about a satellite office in Mesa that would be ...
Record attendance and strong presentations at AICPA BV conference
n PAINTING A MASTERPIECE – THE CREATION OF AN EFFECTIVE VALUATION REPORT Kevin Yeanoplos, CPA/ABV Beacon Valuation Group, Inc. Dressed appropriately ( see accompanying ...
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