Precedent Transactions
Also called: transaction comps, deal comps, M&A comparables
Precedent transaction analysis values a company using multiples paid in past acquisitions of similar businesses. Because those prices included control premiums and expected synergies, they sit above trading comps — typically 20–40% above — which is exactly why sellers favour this method. Deals age badly, so transactions from a different rate or credit environment tell you little about today.