Abeome Corp., Inc. v. Stevens
The parties did not agree on a fair value of the shares in a dissenting shareholder suit. The court, using information in evidence, including expert witness testimony from both parties’ experts, determined the fair value.
U.S. District Court Determines Fair Value of Shares
The parties did not agree on a fair value of the shares in a dissenting shareholder suit. The court, using information in evidence, including expert witness testimony from both parties’ experts, determined the fair value.
Tomorrow! ASA’s Virtual Fair Value Conference
Ray Rath (Baker Tilly US LLP) has put together an interesting program for a half-day conference tomorrow, December 7, the ASA 2023 Fair Value Virtual Conference—Winter, from 1:00 p.m. to 5:20 p.m. EDT.
Global BV News: Global ‘key players’ in valuing intangibles per QYResearch
QYResearch has published an updated research report on the global market for valuation services for intangible assets.
Dawson v. Dawson
The court of appeals, in an Arizona divorce case, affirmed the decision of the Superior Court to accept the wife’s expert’s value of the husband’s business. The wife’s expert used a three-year look back average of cash flows, while the husband’s expert utilized the most current year’s cash flow.
Court Chooses Three-Year Average Cash Flow Over Single to Determine Value of Husband’s Business—Appellate Court Affirms
The court of appeals, in an Arizona divorce case, affirmed the decision of the Superior Court to accept the wife’s expert’s value of the husband’s business. The wife’s expert used a three-year look back average of cash flows, while the husband’s expert utilized the most current year’s cash flow.
New Research Finds That Industries Have Different Growth Rates
An update to ongoing research by Roger Grabowski (Kroll) and Dr. Ashok Abbott (West Virginia University) supports the use of different long-term growth rates for different industries and the use of the three-stage DCF.
BV News and Trends November 2023
A monthly roundup of key developments of interest to business valuation experts.
Power Panel: Healthcare BV and the New Stark Regulations, Part 2
In this second power panel discussion, key thought leaders in healthcare business valuation discuss the ramifications of the recent update to the Stark regulations on business valuation practices. The panel will discuss whether many common ideas and practices need to be either modified or dropped altogether in order to meet the new regulatory definition of fair market value (FMV) under Stark. As part of the discussion, the panel will react and respond to the recent ...
Calculation report used in court but had no rival
Most valuation analysts will not use a calculation report in court. But what if the other side has nothing?
What It’s Worth: Valuing Jewelry Stores
November 2023 PDF (113 pages)
BVR (editor)
Business Valuation Resources, LLC
What’s the ‘Barbie buzz’ worth?
Having a product prominently displayed in a hit movie has value—but how much?
BV News and Trends October 2023
A monthly roundup of key developments of interest to business valuation experts.
Hitchner busts more BV myths
Does the fair market value standard assume a financial buyer, without synergistic benefits?
Damodaran values Birkenstock’s intangibles
He doesn’t care for its sandals, but Professor Aswath Damodaran (New York University Stern School of Business) has taken a great interest in valuing the intangibles of footwear company Birkenstock.
AICPA offers free replay of portfolio valuation event
If you missed the live AICPA Portfolio Valuation Forum, a free replay is available if you click here (free account registration needed).
Lone dissenter of medical merger challenges share valuation
In a California case, a physician was a nonexclusive provider to a physician network and was one of 75 shareholders.
How to Address Market Efficiency for Appraisal Hearings
In statutory appraisal matters in the Delaware Court of Chancery, the court has shifted its attention away from dueling experts and more toward using a stock’s market price as the best measure of fair value. Valuation experts who come up with a different value would, therefore, need to prove that the market is not efficient.
BV News and Trends September 2023
A monthly roundup of key developments of interest to business valuation experts.
Private Equity Roll Up of Professional Practices Valuation Considerations
This webinar transcript focuses on private equity roll-up acquisitions of professional practices and the possible effect of these transactions on business valuation.
Court has limited menu for steakhouse valuation
In a Michigan case, two 50% owners of a Ponderosa steakhouse were locked in a battle over the Old West-themed eatery, with both owners engaging in oppressive conduct against the other. They left it up to the court to decide their fate.
BVResearch Pro adds to its archive of the ASA’s BV Review
Among many other resources, the BVResearch Pro platform contains the full archive of the Business Valuation Review going back to 1982.
Valuation to Maximize Client Engagement and Value
This transcript focuses on key issues involved in a properly executed and planned valuation and how such a process can maximize client engagement, value, and control.
Valuation expert’s credibility takes several hits
In a New York fair value case, one of the 50% owners filed for dissolution and the other owner elected to buy him out.
Implied Control Premiums Through Delaware Appraisal Decisions
The valuation industry has utilized the concepts of control premiums and corresponding discounts for lack of control (DLOC) for decades. There has been considerable debate regarding the application of control premiums paid to acquire public companies, given the likely existence of synergies embedded within those premiums. This article analyzes implied control premiums using Delaware Court of Chancery (the “Court”) decisions in which the Court determined the fair value of the shares of formerly public companies.