A fairness opinion is provided by an independent financial advisor to the board of directors of selling companies in many transactions today, especially those with a significant number of minority shareholders.
A fairness opinion is provided by an independent financial advisor to the board of directors of selling companies in many transactions today, especially those with a significant number of minority shareholders.
Business appraisers provide support to attorneys working on cases involving valuation and business damages.
A “top 10” list of things every estate planner should know about business valuation & list of helpful resources.
When talking with business owners about transacting their business, an issue that almost always arises relates to the appropriate deal and financial expertise of the transaction advisor.
In April 1999, the Tax Court issued a decision authored by Judge David Laro in Alice Friedlander Kaufman v. Commissioner.
Family limited partnerships have become an increasingly popular estate planning tool.
As the use of fair value measurement has expanded, so has the need for professionals who have specialized capabilities related to the measurement of fair value and the resolution of fair value issues.
Recognition of the particular attributes of independent trust companies is significant to understanding their value.
For those banks considering the acquisition of a failed bank, changes to the terms of a number of FDIC-assisted transactions announced in the second quarter of 2010 should be considered prior to the preparation of bids.
If your business is structured as a C corporation, it might be well past time for you to investigate conversion to an S corporation status. This article lists the pros and cons.
The Tax Court Memorandum demonstrated that the Court thoroughly studied and it appears well understood the QMDM. While the Court did not accept the expert’s 65.77% discount, the Court criticized the assumptions used, not the QMDM.
The quoted unit price of a publicly traded security is sometimes not definitive of fair market value for a specific block of the shares or bonds. Such a condition typically arises when the subject holding has impaired marketability.
The world of fair market value is not the real world. It is a special world in which the participants are expected (defined) to act in specific and predictable ways.
A review of the 1993 paper “Market Discounts and Shareholder Gains for Placing Private Equity” by Michael Hertzel and Richard L. Smith.
A new form of business organization, the limited liability company (LLC), could present new planning opportunities for business owners.
Valuing a limited partnership interest can be complicated and time consuming. Whatever the level of complexity, careful documentation of the valuation process will benefit users of limited partnerships.
Since we are dealing with limited partnership interests, and since what can be transferred in most instances is only an assignee interest, shouldn’t there be a further discount applicable to the assignee interest?
As part of the appraisal due diligence process, information is obtained from general partners and/or managing members as well as from a variety of other sources. Such information provides a basis for the appraiser to understand the composition, operations, strategy, and governance of the entity. This article focuses on the importance of analyzing, from a valuation perspective, the reasonableness of this information.
The alternate valuation date warrants serious consideration at any time, but particularly in the current economic environment.
Under certain conditions, a GRAT can result in the transfer of wealth to family members without gift tax.
Mercer Capital has been performing complicated tax engagements for decades. In this article, we describe the processes that lead to credible and timely valuation reports. These processes contribute to smoother engagements and better outcomes for clients.
The recently enacted “JOBS Act” attempts to reduce regulatory burdens on small businesses. However, these rules offer opportunities for community banks as well.
Despite an anticipated surge of transactions within the banking industry, bank merger and acquisition activity declined in 2011.
This article discusses three ways that a loan portfolio valuation analysis is helpful to your bank when considering an acquisition.