Liquidation value provides an estimate of the minimum value of the target firm.
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Break-up value assumes that individual businesses can be sold quickly without any material loss of value.
Tangible book value is the value of shareholders' equity less net fixed assets.
The replacement cost approach to valuation of a target firm ignores value created by operating the assets in combination as a going concern.
Valuations of target firms based on the comparable companies and recent transactions methods must be adjusted to reflect control premiums.