Fairness Opinion Materials

Anyone have any fairness opinion materials? Possibly a primer, or a good book to read about it? I know S&P has one, and Houlihan is dominant in this space, but if anyone has good material, please shoot me a PM.

Thanks!

 

It might help to take a look at the SEC filing for a recent M&A transaction. Public companies will typically have a fairness opinion completed as part of the transaction.

A solid example would be JPM's fairness opinion for the Merck-Schering Plough deal:

http://sec.gov/Archives/edgar/data/310158/000095012309009217/y77207sv4…

(See page 64)

Not sure about books/materials on Fairness opinions, but its basically the same valuations used in M&A, just on steroids and with everything footnoted like crazy.

 

Incidunt qui molestias deserunt. Corrupti reprehenderit doloremque nisi aperiam consequuntur.

Nostrum rem maiores a ut illo. Dolores velit qui et fugit omnis earum quaerat. Animi dolorem quia pariatur dolor.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $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

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
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...”