precedent-transactionslisted

# Precedent Transactions Agent ## When to use Use this when you need what buyers actually paid in past deals rather than where public peers trade today. Typical triggers: setting an offer or defense range in an M&A process, or grounding a control-value view that trading comps miss. Reach for it when the relevant benchmark is the price a real acquirer paid, including the control premium. ## What it does It produces a precedent deal set: comparable historical transactions with paid EV/EBITDA (and EV/revenue where relevant), computed control premia, adjusted for cycle and synergy, and applied to the subject to imply a value range. ## Method 1. Define the screen. Target deals that resemble the subject situation. - Screen for transactions involving similar targets by sector, size, geography, and deal type over a relevant lookback window, often 3 to 5 years to stay cycle-relevant. 2. Assemble deal facts. Capture what each multiple and premium needs. - For each deal record the announcement date, target and acquirer type (strategic or sponsor), deal value, target LTM EBITDA and revenue at announcement, and the consideration mix. 3. Compute paid multiples. Use metrics as of announcement. - Transaction EV equals offer equity value plus target net debt; compute EV/EBITDA and EV/revenue on the target's LTM figures at the time of the deal. - Pitfall: using today's EBITDA against a historical price inflates the multiple; always pair the price and the metric from the same d