Global BVU News and Trends October 2018
Business valuation news from a global perspective.
BVU News and Trends September 2018
A monthly roundup of key developments of interest to business valuation experts.
Learn about complex M&A transactions
Transaction Advisors will bring M&A experts together in Chicago for its M&A Conference on September 26 and 27.
Global BV News: Fund valuations on the global enforcement radar
In France, enforcement action against alternative investment firms for improper valuation procedures and controls is a “sign of things to come—and not just in France,” according to an article in Valuation Insights, Third Quarter 2018 from Duff & Phelps.
BVU News and Trends August 2018
A monthly roundup of key developments of interest to business valuation experts.
In re Appraisal Solera Holdings, Inc.
In an appraisal proceeding, the Chancery finds the deal price minus synergies provides the best evidence of fair value; court says there was an efficient market and the sales process, though not perfect, was able to deliver the value generated in an arm’s-length transaction.
Delaware Chancery Says Reasonably Sound Sales Process Delivered Fair Value
In an appraisal proceeding, the Chancery finds the deal price minus synergies provides the best evidence of fair value; court says there was an efficient market and the sales process, though not perfect, was able to deliver the value generated in an arm’s-length transaction.
BVU News and Trends July 2018
A monthly roundup of key developments of interest to business valuation experts.
BVU News and Trends June 2018
A monthly roundup of key developments of interest to business valuation experts.
AICPA releases draft of PE/VC guide
After several years in the works, the AICPA has issued a draft “Accounting and Valuation Guide” that provides “nonauthoritative guidance” for valuing private equity and venture capital investments.
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.
BVU News and Trends May 2018
A monthly roundup of key developments of interest to business valuation experts.
Sorting out M&A transactions
Get an inside look at M&A transactions at the San Francisco M&A Conference on May 16 sponsored by Transaction Advisors.
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.
Record multiples in PE deals
The “2018 Private Equity Valuations Report” examines trends in financial sponsor-led transactions and highlights how private equity investors are adjusting to record deal multiples.
QBI puzzles fund managers
A flash poll conducted by Baker Tilly Virchow Krause LLP (Baker Tilly) reveals that 36% of fund managers specify qualified business income (QBI) deductions as the greatest challenge faced from the passage of tax reform.
The Price to Value Disconnect: No End in Sight
We attended the EuroGrowth 2017 conference in London, and here are some interesting observations.
High Court Finds Chancery’s Weighting of Values Unexplained and Inexplicable
State Supreme Court declines to create presumption for appraisal actions that deal price is best indicator of value when merger was arm’s-length transaction, but court finds Chancery’s valuation approach lacked support in record and requires revaluation.
DFC Global Corp. v. Muirfield Value Partners, L.P. (II)
State Supreme Court declines to create presumption for appraisal actions that deal price is best indicator of value when merger was arm’s-length transaction, but court finds Chancery’s valuation approach lacked support in record and requires revaluation.
High Court Finds Chancery’s Weighting of Values Unexplained and Inexplicable
State Supreme Court declines to create presumption for appraisal actions that deal price is best indicator of value when merger was arm’s-length transaction, but court finds Chancery’s valuation approach lacked support in record and requires revaluation.
Chancery achieves fair value with three imperfect valuation techniques
The whole is greater than the sum of its parts. Perhaps Chancellor Bouchard thought of Aristotle when he recently ruled in a statutory appraisal action that, even though the results of three common valuation techniques were unreliable indicators of value, in combination they established fair value.
High Company-Specific Risk Adjustment Distorts Valuation
In a buyout case, the court finds that, in reselling company, defendants undervalued rollover equity interest by double counting risks specific to the company in order to avoid triggering windfall provision in prior sales agreement favorable to plaintiff.
Charron v. Sallyport Global Holdings, Inc.
In a buyout case, the court finds that, in reselling company, defendants undervalued rollover equity interest by double counting risks specific to the company in order to avoid triggering windfall provision in prior sales agreement favorable to plaintiff.
Expert insights on valuation and bankruptcy
We’ve just posted numerous new articles from Insights, the esteemed valuation quarterly published by Willamette Management Associates and provided exclusively to subscribers of BVResearch.
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