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Wednesday, April 24, 2013
The market for illiquid assets owes much of its evolution to financial crises and the ensuing search for returns. However, the financial crisis of 2008 fomented the convergence of individual sub-markets into a single secondary market and the emergence of new investor participants, as Managing Directors Jeff Hammer and Paul Sanabria write in a recent editorial published by Private Equity International.
Wednesday, April 10, 2013
Shareholder activists have transformed themselves from ‘corporate raiders’ into “analytical and balanced advocates for shareholder value,” essentially creating a new asset class for investors.
Thursday, September 27, 2012
Balance Sheets Remain Risky Despite Sustained Profitability The latest edition of Houlihan Lokey’s European Goodwill Impairment Study 2012-2013 presents an interesting set of results. Aggregated data reveals that earnings before taxes and goodwill impairment charges at Europe’s 600 largest companies included in the STOXX Europe 600 Index in 2011 remained robust, rising slightly over 2010 levels, and were only 9% off pre-financial crisis levels in 2007.
Tuesday, September 25, 2012
Reed Anderson, head of Houlihan Lokey's Distribution practice, opines on what’s behind valuations of distribution companies and the factors CEOs must examine when considering a potential sale in the September 25 issue of Modern Distribution Management.
Friday, August 24, 2012
Houlihan Lokey has completed its 11th annual Purchase Price Allocation Study, reviewing public filings for 1,323 completed transactions in 2011 and summarizing the results for certain transactions.
Tuesday, August 21, 2012
"At this point, the ultimate direction of the LIBOR manipulation-related litigation is unclear," said Dr. Cindy Ma, Managing Director and Head of Portfolio Valuation & Advisory Services at Houlihan Lokey. "However, it will become critical for the parties involved in these cases to be well-informed about the intricacies of the LIBOR-setting process and the complexities associated with estimating the potential economic impact."
Thursday, June 14, 2012
Houlihan Lokey is pleased to share with you its 2011 Transaction Termination Fee Study, which summarizes key termination fee metrics for M&A transactions announced in 2009, 2010 and 2011.
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