Fairness Opinions in Mergers and Acquisitions


This practice note discusses the purposes and content of fairness opinions in M&A transactions. It discusses the typical content of a fairness opinion, information commonly reviewed by the financial advisor, valuation analyses that may be performed, and disclosure requirements of fairness opinions. This practice note does not contain form language that may be found in a fairness opinion. For examples of fairness opinions with commentary, see Sell-Side Fairness Opinion and Buy-Side Fairness Opinion. For precedent recently filed fairness opinions, see the related content at the end of this practice note.