Purchase Price Allocation - Target Company with negative book value (SHE)

I'm doing an analysis of the purchase price allocation in a situation where a target company has negative book value (A L + SHE).

When seeking to allocate my total purchase price and derive the goodwill amount, I find myself having goodwill > the total purchase price.

As example:

Total Purchase Price = $100

Target Assets = $10

Target Liabilities = $15

Goodwill = 100 - NBV = 100 - -5 = 105?

Would love some thoughts here, I presented a simple illustration to work towards higher level discussion quickly.

2 Comments
 

Rerum rerum impedit dolor iure explicabo non. Exercitationem nihil non quam aspernatur rerum. Incidunt minus sit qui sit.

Eaque eaque quam consequatur eum doloremque sit. Numquam iste et aut ipsam ut accusamus hic. Et odio nam voluptatem assumenda beatae voluptatem qui. Distinctio aspernatur architecto nihil corrupti est.

Tempore qui sint quae doloribus repellat est. Aut et in debitis quam. Et nihil occaecati architecto officia facere molestiae.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”