For Australian business owners, the choice between a share sale and an asset sale is not just a legal or tax decision, it is a valuation issue that can materially change the price, the risk profile, and the net proceeds to each party. A professional business valuation engagement must reflect how CGT, GST, stamp duty, […]
Completion accounts and locked-box mechanisms are two common ways to determine final consideration in an Australian business sale, and both can materially affect a seller’s net proceeds. For a business valuer, the key issue is not just legal drafting, but how each mechanism allocates value, working capital movements, debt, cash and timing risk between buyer […]
Warranty and indemnity insurance (W&I insurance) is now a practical feature of many Australian mergers and acquisitions, but its relevance to business valuation is often misunderstood. For a business owner, buyer, or advisor, the key issue is not simply who pays for the policy, but how the policy reallocates deal risk, influences pricing, affects the […]
Warranties and indemnities are a central feature of Australian business sale agreements because they allocate post-completion risk between buyer and seller. For a business valuer, they are not just legal clauses. They can materially affect maintainable earnings, contingent liabilities, transaction certainty, and the discount or premium a prudent buyer is willing to pay. In practice, […]
Exclusivity is one of the most commercially important phases in an Australian business sale, because it often marks the point where a buyer and seller move from broad negotiation into focused due diligence and, ultimately, a Share Sale Agreement. From a valuation perspective, this stage matters because the negotiating leverage, information quality, and timing of […]
Confidentiality is not just a legal issue in a business sale, it is a valuation issue. For Australian privately held businesses, the way information is released to buyers can influence perceived risk, market interest, negotiating leverage, and ultimately the value conclusion in a valuation engagement. Teasers, non-disclosure agreements (NDAs), and staged disclosure are practical tools […]
In an Australian merger and acquisition (M&A) process, a Heads of Agreement or term sheet is often the first document that sets the commercial framework for a deal, but it can also shape the valuation outcome long before formal sale documents are drafted. For business owners, the key issue is not simply what price is […]
An information memorandum (IM) is more than a sales document. For a private business owner, it is a core valuation input because it frames the investment case, explains the earnings base, and sets out the risk and growth story that buyers will test against their own valuation models. In an Australian transaction context, a well-prepared […]
The Australian M&A process is more than a legal or transaction exercise, it is a valuation journey that progressively tests what a privately held business is really worth, on what basis, and to whom. From preparation and information memoranda through to offers, due diligence, and completion, each stage can change price expectations, risk adjustments, and […]
Corporate advisory services cover a broad set of specialist assignments that influence how a privately held business is valued, financed, sold, restructured, or positioned for growth. For Australian business owners, the key point is not the advisory label itself, but how each service affects enterprise value, equity value, marketability, and deal outcomes. Whether the task […]