Tracking Alpha
What it is
The total value of the deal as the companies state it when they announce or revise it.
On the site asValue
How to read it
The filings give either the equity value (all the shares at the offer) or the enterprise value (which also counts the company's debt, net of its cash), and the Value column shows whichever they give.
The fee columns divide by it, so two deals' percentages can rest on different bases.
Related terms
- Termination feeThe fee the target pays the buyer if the agreement ends in the cases it sets out, typically when the target accepts a better offer from someone else.
- Reverse termination feeThe fee the buyer pays the target if the agreement ends in the cases it sets out, typically when an approval is refused or the buyer's financing fails.
