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Valuation of Acquisition Targets: Guidance for M&A Counsel

Understanding Valuation Models, Formulas and Techniques; Impact of Valuation on Price, Negotiation and Disclosure

Recording of a 90-minute premium CLE webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Thursday, April 7, 2016

Recorded event now available

or call 1-800-926-7926

This CLE course will highlight what M&A counsel need to understand about valuing the parties to M&A transactions in order to effectively represent their clients. The panel will review common business valuation approaches and methodologies and how the valuation affects final purchase price, the negotiation of the acquisition agreement, and the drafting of disclosure documents.


An understanding of valuation theory, methodologies and nuances is vital for M&A counsel representing acquirers, targets and financial advisors. Valuation involves analyzing a company’s recent and projected financial performance and its ability to deliver on meaningful value drivers as well as evaluating current market dynamics.

Counsel advising parties in M&A deals must have a basic understanding of valuation terms and techniques, including various valuation approaches and methodologies, how they are incorporated in a valuation, and how deal terms affect value, in order to provide meaningful guidance to their clients. Counsel must also understand how to negotiate the acquisition agreement in a way that reflects the agreed upon valuation and how to draft disclosure documents.

Listen as our authoritative panel discusses key issues M&A counsel need to understand regarding business valuation approaches and methodologies in order to advise their clients.



  1. Standards of value
    1. Fair market
    2. Fair
    3. Strategic
    4. Liquidation
  2. Valuation approaches
    1. Income
    2. Market
    3. Asset/cost
  3. Discounts and premiums
  4. Potential valuation pitfalls


The panel will review these and other key issues:

  • What are the different standards of value commonly used in business valuation?
  • When is it appropriate to each valuation methodology and how are different methodologies incorporated in a valuation?
  • How is a valuation dependent on inputs, assumptions and adjustments?
  • How and when are valuation discounts and premiums applied?


Dorf, Michael
Michael S. Dorf

Shearman & Sterling

Mr. Dorf has extensive experience in U.S. domestic and cross-border M&A transactions, carve-outs, venture...  |  Read More

Jeffrey S. Tarbell
Jeffrey S. Tarbell

Houlihan Lokey

Mr. Tarbell has more than 25 years of experience providing valuation and financial opinions to private and...  |  Read More

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