Chapters, Fairness Opinions

Chapter 18: Fairness Opinions and Common Stock Valuations

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Gilbert E. Matthews, M. Mark Lee: Bear, Steams & Co. Inc.


A fairness opinion is a special form of valuation report, usually a letter, that is often viewed as a “shield” against potential legal damages. It states that, in the view of the investment banker, based upon certain procedures followed and assumptions made, a specific transaction at a specific price is fair, from a financial point of view, to specific parties.

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