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A Valuation Model for International Acquisitions

A Valuation Model for International Acquisitions The proliferation of mergers during the 70s and 80s has generatedvoluminous amounts of research with a primary focus on the impact to theshareholders from both the acquired and the acquiring firms. Relativelylittle research has been placed on the valuation process itself,especially within the international merger setting. To fill the void,this article details a valuation process based on capital budgeting.This approach is designed for use by foreign firms contemplating mergersor acquisitions across international borders. The framework may also beused to help explain the increasing numbers of nonUS acquisitions of USfirms and to make inferences about divestiture and leveraged buyoutLBO activity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing

A Valuation Model for International Acquisitions

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0025-1747
DOI
10.1108/00251749110002936
Publisher site
See Article on Publisher Site

Abstract

The proliferation of mergers during the 70s and 80s has generatedvoluminous amounts of research with a primary focus on the impact to theshareholders from both the acquired and the acquiring firms. Relativelylittle research has been placed on the valuation process itself,especially within the international merger setting. To fill the void,this article details a valuation process based on capital budgeting.This approach is designed for use by foreign firms contemplating mergersor acquisitions across international borders. The framework may also beused to help explain the increasing numbers of nonUS acquisitions of USfirms and to make inferences about divestiture and leveraged buyoutLBO activity.

Journal

Management DecisionEmerald Publishing

Published: Apr 1, 1991

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