[Verse 1] When buyers hunt for treasure, they dig through history's vault M&A transactions whisper secrets without fault Each deal becomes a mirror, reflecting what firms pay For assets, debts, and synergies that drove the price that day [Chorus] Precedent transactions, comparable and true Multiples tell stories of what acquirers do EBITDA, revenue, book value in the mix Control premiums dancing, market timing tricks [Verse 2] Strategic buyers versus financial, motives shift the scene Hostile takeovers premium while friendly deals run lean Size adjustments matter when your target's twice as small Industry consolidation lifts the valuation call [Chorus] Precedent transactions, comparable and true Multiples tell stories of what acquirers do EBITDA, revenue, book value in the mix Control premiums dancing, market timing tricks [Bridge] Normalize the outliers, scrub the special gains Cash versus stock consideration runs through different veins Auction versus negotiated, leverage ratios count Time decay adjustments make the vintage data mount [Verse 3] Enterprise value bridges equity to total firm Strip away the capital structure, let the core confirm Median not average when the sample size is tight Weight the recent transactions, future's burning bright [Final Chorus] Precedent transactions, craft the valuation range Public market discounts, private market strange Synergy assumptions, standalone worth below Control premiums capture what the smart acquirers know [Outro] History's the teacher, every deal's a lesson learned Precedent transactions, where fair value's earned
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