Sydney (1 July 2020)
VRG Australia member firm, Leadenhall, released its first Independent Expert’s Report Review, which is a short round-up of recent trends in Independent Expert’s Reports (IERs).
Independent Expert’s Report (IER) trends by industry
While IERs take place across all sectors, the metals and mining industry has shown clear dominance by volume of transactions. However, these are generally smaller transactions, with the median value being only $12 million and the average a little higher at $57 million due to a handful of larger deals such as Wesfarmers $770 million acquisition of Lithium miner Kidman Resources in 2019 and Hancock Prospecting’s $390 million takeover of Atlas Iron in 2018. More recent trends reveal an increase in pharma, biotech, and life sciences work including a number of transactions we are working on at present. Read the complete report here.
Independent Expert's Report Review
Key factors from all Independent Expert’s Reports (IERs) are summarized, included in the Connect4 database since 1 January 2018. Metals and mining dominated the number of deals, with the most common transaction type being related party transactions. + Read Report
What is an Independent Experts Report?
An Independent Expert’s Report (IER) provides impartial and credible advice to investors on the merits of a proposed transaction – and contains an opinion as to whether that transaction is fair and reasonable to shareholders or is in their best interests. + Learn More