04
Forces of Change 4.1 Motivations & Drivers ................................................ 24 The Sell-Side .................................................................................. 24 The Buy-Side ................................................................................. 25 Size & Geographical Considerations ......................................... 26 Financial Considerations ............................................................. 26 Bringing the Sides Together ........................................................ 27 4.2 Concerns & Challenges ........................................... 28 Quantifying Culture ...................................................................... 28 The Importance of Ownership Transition ................................. 29 Other Considerations .................................................................... 29 The Whole View ............................................................................. 29 4.3 Valuation Benchmarks ............................................. 30 Expectations in Context ............................................................... 30 Evolving Deal Structures ............................................................. 30 Process & Value Protection ......................................................... 31 Valuation: Sector & Geographic Trends .................................... 31 What the Numbers Say ............................................................... 31
Made with FlippingBook Annual report