Tim R. Lee, ASA, Managing Director of Mercer Capital’s Corporate Valuation services, will speak at the 2018 Las Vegas ESOP Conference and Trade Show hosted by The ESOP Association (November 8-9, 2018). Tim will co-present the session, “Control Issues in ESOP Purchase Transactions” with Jeffrey S. Tarbell.
A description of Tim’s session can be found below:
Many ESOP purchase transactions are made on a controlling interest valuation basis. However, as has been highlighted in DOL investigations and ESOP litigation, whether an ESOP has “control” is not always a crystal clear issue. In addition, the Appraisal Foundation has recently published its MPAP paper which addresses specific factors to consider, including but not limited to the company’s cash flows, when valuing a company on a controlling interest basis. This advanced session will explore several issues around the topic of control, including what “paying for control” really means, appropriate post transaction corporate governance and how control rights are reflected in an ESOP appraisal.
Founded in 1978, The ESOP Association, the largest employer-sponsored advocacy and education association, is focused on retirement savings in America and is a national non-profit membership organization. The Association aims to preserve and promote employee stock ownership through the ESOP structure. Enhancing laws before Congress and regulatory agencies that govern ESOPs and providing its members with expert educational ESOP programming and information are its main concentrations.