Another view of the private company market from Mergerstat
After declining 26% in 2008, the number of mergers and acquisitions announced in the U.S. decreased only 13% in 2009. “The market, it seems, had nowhere to go but up.” reports FactSet/Mergerstat. On the bright side (if there is one) dealflow has increased each quarter in 2009, the longest such trend since 1995-1996.
In addition to [...]
Be careful about valuation clauses in your buy-sell; a court may decide it’s all you have!
Earlier this year, when reviewing the shareholder’s request for a statutory buy-out under Texas law, the bankruptcy court concluded that it had three options to value his 8% interest: 1) the shareholder’s expert valuation; 2) book value; or 3) the buy-sell provision in the company’s shareholders’ agreement.
The shareholder’s expert used a capitalization of income approach [...]
Having trouble selling your minority shares? Try these new “secondary markets”
Adam Oliveri, Managing Director for SecondMarket, told commercial lawyers at the ABA Business Law Sections annual meeting in Denver last weekend that “the public capital markets are broken.” This comes as no surprise to BV.com readers!
SecondMarket is one of the new centralized sales platforms for illiquid assets, and here’s some evidence from Oliveri regarding [...]
Don’t underestimate the value of your IP
The assets of the world-famous Tavern on the Green were auctioned off for a few million dollars earlier this month. All of them…except the name. The “Tavern” brand may be worth hundreds of millions. The point is–strategic decisions are increasingly dependent on understanding the value of intangibles. Little effort is invested in assessing the value [...]
Facing commercial litigation? Tell your lawyer about the new business courts
“Even commercial lawyers don’t know that there are now business courts specifically designed to handle complex litigation,” the Honorable Ben Tennille (North Carolina) observed at last weeks’ spring meeting of the ABA Business Law Section in Denver, Colorado. As Chief Special Superior Court Judge for Complex Business Cases, Tennille also reports that this trend is [...]
Need to benchmark your performance? 7-year industry reports may be your best bet
Many owners, analysts, and CFOs are discovering that they can’t capture the current full buzsiness cycle with the standard 3 and 5 year financial history reports available from RMA and other providers. To solve this problem, BizMiner has added 2002-2004 data to their reports so that subscribers now have a choice of selecting 3 yr., [...]
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