European Fintech Insights: When to Win an Auction

There's a simple trick to buying companies: the buyer must pay more than other bidders. Often, the buyer must pay above its own valuation multiple due to the M&A premium. It's no surprise that academic research shows many deals destroy value. So, when is the right time to pay more than anyone else?

When to Win an Auction


Download Now


Download Now*

*The file is an Adobe Acrobat PDF. If you experience difficulty opening the downloadable file, you may need to download the free Acrobat Reader.


David Sola
Managing Director

You are about to leave
Houlihan Lokey's website

The link below leads to a website that is not
owned by Houlihan Lokey.

Continue to the external website,
close the window to remain on