Strategic Rationale: Why M&A Happens

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Numeric AnswermediumMultiplesSynergies

A target trades at $500M EV. The buyer is considering paying a 20% EV premium. If the buyer values synergy benefits at 10.0x EV/EBITDA, what annual run-rate EBITDA synergies (in $ millions) are needed to justify the premium (ignore one-time costs and taxes)?

Enter EBITDA synergies in $ millions (e.g., 8)

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