What is fairness opinion document?

In the M&A context, a fairness opinion is a document provided by the seller's investment banker to the seller's board of directors attesting to the fairness of a transaction from a financial point of view.

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Letter to Board of Directors - Fairness Opinion

Fairness Opinion Example

Name: Wayne Michigan Letter to Board of Directors - Fairness Opinion
Brand: US Legal Forms
Rating: 4.64 (215 reviews)

Category:

Corporations - Public - Sale or Purchase of Capital Stock

State:

Multi-State

County:

Wayne

Control #:

US-CC-4-254

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Instant download

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This sample form, a detailed Letter to Board of Directors (Fairness Opinion) document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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How to fill out Wayne Michigan Letter To Board Of Directors - Fairness Opinion?

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While not required by law,2 fairness opinions are commonly used in M&A transactions to assist the board, a special committee of the board, or other fiduciaries in assessing the fairness of the financial terms of a transaction, as of a specific date and based on a given set of assumptions.

A fairness opinion is a financial advisor's perspective as to whether the price to be paid or received in a transaction is fair to the client's shareholders.

As part of the takeover process, a target board of directors often seeks a fairness opinion from an investment bank in its consideration of the proposed transaction. The purpose of seeking fairness opinions is to obtain an objective independent assessment of the value of the target firm in relation to the deal value.

A fairness opinion is a report compiled by a qualified investment banker. What do Investment Bankers do? Investment bankers can work 100 hours a week performing research, financial modeling & building presentations.

In contrast an M&A valuation gives the management an indication or recommendation for the transaction price. Czaplinksi: A fairness opinion is limited to fairness from a financial point of view, as the individuals providing the opinion are financial and valuation professionals.

Fairness opinions are not always required in transactions involving public companies, but they can be helpful in reducing the risk associated with major financial actions or purchases, including the risk of litigation.

A fairness opinion is a letter summarizing an analysis prepared by an investment bank or independent third party, which indicates whether certain financial elements in a transaction, such as price, are fair to a specific constituent, from a financial point of view.

While they are not required, they can also be a good way to facilitate communication between the various involved parties.

Fairness opinions are filled with SEC and stored in the EDGAR database which is available to the public. Look for a document filed as an S-4. Attached below is a Fairness opinion pdf example. It is from the LinkedIn sale to Microsoft produced by Qatalyst partners.

In the M&A context, a fairness opinion is a document provided by the seller's investment banker to the seller's board of directors attesting to the fairness of a transaction from a financial point of view.

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It was formed solely for the purpose of completing the merger. Lamont, and Stephen A. Vogel serve as directors on NetSpend's Board.In a fair auction. Responsibility for completing all course work rests with the student. Webinar for members. View details in the community portal. 14, 1983); Robert J. Giuffra, Jr., Note, Investment Bankers'Fairness Opinions in. Note. The levels of social, environmental and economic inequality in society are damaging health and wellbeing.

Fairness Opinion Example

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