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Cross border valuation of a non-listed company, a real-life case.

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Dejace, Didier ULiège
Promotor(s) : Niessen, Wilfried ULiège
Date of defense : 28-Aug-2017/11-Sep-2017 • Permalink : http://hdl.handle.net/2268.2/3236
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Title : Cross border valuation of a non-listed company, a real-life case.
Author : Dejace, Didier ULiège
Date of defense  : 28-Aug-2017/11-Sep-2017
Advisor(s) : Niessen, Wilfried ULiège
Committee's member(s) : Lambert, Marie ULiège
Language : English
Number of pages : 70
Keywords : [en] Valuation, Discounted cash flow
[en] Acculturation, synergies
Discipline(s) : Business & economic sciences > Finance
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en MBA (Horaire décalé)
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège

Abstract

[en] An acquisition can be a real business booster for the acquirer & the target with new business opportunities, synergies and value creation. An acquisition can also be harmful for both (Meyer, Harvard Business Review, 2017) firms, causing destruction of value. Some studies show that more than 80% of acquisitions did not increase shareholder’s value (Forbes, 2015) (Koi-Akrof, 2016) (Lewis & McKone, 2016).
The aim of this paper is to be able to answer to the following question: “How to be well prepared for an acquisition”. It’s based on a real case, the valuation of a small, non-listed firm located in Finland. To answer, we must go step by step: from valuation to combining the business together.


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Access Annex - Final.pdf
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Author

  • Dejace, Didier ULiège Université de Liège > Master sc. gestion, à fin. (H.D.)

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