Certainly a lot of succession transactions occur at market value. Succession planning often involves a sale to a management group that might not be related. Sometimes it involves the outright sale of the company. An employee stock ownership plan is also an option. |
If generating revenue requires that you continue to develop relationships with clients, that's the most important management task you have to worry about transferring. Because that's the hardest. |
If you were looking at the value of the combined firm, you're going to look at that and what value is suggested by what you think the combined company can do, which is more than adding the historical results of the company together. |