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This chapter develops a comprehensive framework for M&A valuation that bridges analytical rigor and strategic intent. It demonstrates how transaction value extends beyond standalone worth to investment value—specific to each buyer's synergies, capabilities, and financing structure. Through synergy quantification, deal structuring, and post-merger integration, valuation becomes a dynamic process linking strategy, negotiation, and execution. The chapter distinguishes between strategic and financial acquirers, integrates fairness opinions and purchase price allocation, and emphasizes that valuation discipline, anchored in realistic assumptions, determines whether mergers create lasting shareholder value or destroy it.

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M&A Valuation: Are Investors Creating Value or Just Paying for It?

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  • 发表日期：

    2026年

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  • Roberto Moro-Visconti

摘要

This chapter develops a comprehensive framework for M&A valuation that bridges analytical rigor and strategic intent. It demonstrates how transaction value extends beyond standalone worth to investment value—specific to each buyer's synergies, capabilities, and financing structure. Through synergy quantification, deal structuring, and post-merger integration, valuation becomes a dynamic process linking strategy, negotiation, and execution. The chapter distinguishes between strategic and financial acquirers, integrates fairness opinions and purchase price allocation, and emphasizes that valuation discipline, anchored in realistic assumptions, determines whether mergers create lasting shareholder value or destroy it.