Whether or not minority discounts exist for publicly traded equities is a highly debated issue. Some say “No”. Some say “Yes”. And some say “Maybe”. Join Susan Glass (Retired Partner, KPMG), as she considers all three views, along with associated research and her own recommendations. Also, when addressing the “Maybe” option, she will review the factors that would suggest the presence or absence of a discount. Finally, consideration will be given to the two key situations to which this issue relates, namely: (1) whether or not adjustments are required when calculating multiples using public companies; and (2) what to do when valuing a public company for purposes other than financial reporting, such as a fairness opinion, a formal valuation, or a litigation matter.
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