Professional Documents
Culture Documents
1 M&A and Valuation 22
1 M&A and Valuation 22
(Vision)
• Emerging Market
• India Story
Entry
Drivers • Online Growth
Valuation • Online model
• First mover
• Surplus cash
Science Craft
(Analysis) (Experience)
USD 20 Bn
The Value Process The Price Process
• Wal-mart market
price
Tools • Synergy Valuation
• Emerging market
multiples