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Fairness Opinions & Their Applications for Closely-Held Entities

In general, a fairness opinion is an analysis conducted by a third party valuation firm or investment bank that assesses whether the terms of a transaction are fair, from a financial point of view. If properly done, a fairness opinion is a powerful method to protect boards of directors, trustees and other corporate fiduciaries (collectively referred to herein as fiduciaries) from transaction-related liability. Unfortunately, too often, fiduciaries associate fairness opinions with acquisitions of large, public companies. Indeed, obtaining a fairness opinion is a best practice when considering a wide range of transactions, including minority redemptions, recapitalization, combinations and spin-offs, just to name a few. Moreover, a fiduciary’s duty of care is no less important when such transactions involve a closely-held company. Deeming fairness opinion studies too expensive, time consuming, or simply unnecessary, fiduciaries of privately held firms routinely engage in corporate transactions without relying on them. In reality, however, these same fiduciaries may, in fact, be more at risk than their publicly traded counterparts due to heightened appearances of conflicts of interest and self-dealing.

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MPI Welcomes New Employees

MPI announces the addition of seven new faces to our team. These team members will be working closely with our senior staff to provide analytical support required on client related engagements in our Tax-Based Valuations, Transaction Advisory, Financial Reporting and Litigation Support business.

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MPI Adds Cynthia L. Jones to Expand its Offering to Include Securities Litigation Matters

In 2015, MPI expanded its business valuation services to encompass securities litigation matters with the addition of Cynthia (“Cindy”) L. Jones to its Princeton, New Jersey office. Ms. Jones brings a unique set of skills to MPI after 25 years of experience in capital markets consulting, valuation, securities analysis and research, investment management and financial dispute resolution.

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New Employee Announcement!

We are delighted to announce the addition of Dragomir Kichev and Maciej Libucha to the MPI Team. As associates, these individuals will be based in our Princeton office, working closely with members of our senior staff to provide analytical support required on client related engagements in our Tax-Based Valuations, Transaction Advisory, Financial Reporting and Litigation Support business segments.

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Is It Time for Estate Planning in the Energy Sector?

What a difference several months can make in financial markets, especially within the energy sector. Within the past year we have seen $90+ per barrel oil prices and $3.50+ per gallon gasoline prices. However, as 2014 wore on, market dynamics changed and oil prices started a decline to levels not seen since the depths of the last recession.

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