并购整合估价(ppt 36)

Valuation as a Tool
We encounter valuation in many situations:
Mergers & Acquisitions
Leveraged Buy-outs (LBOs & MBOs)
Sell-offs, spin-offs, divestitures
Investors buying a minority interest in company
Initial public offerings
How do we establish value of assets?
Objective today: To preview valuation methods used most commonly in practice

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