Fairness Opinions  

The concern to secure a strong corporate governance framework; the need to demonstrate transparency to the capital markets; the strictures of Sarbanes Oxley; the increased appetite of stakeholders for assurance in transactions — these factors have combined to throw the regulatory environment into sharp focus, as clients contemplate deals.


Gertraud Dirscherl

Gertraud Dirscherl

Partner and Head, Global Valuations Europe

+49 (0)89 9282 5250

Doug McPhee

Doug McPhee

Partner and Deputy Chair, Global Valuations

+44 (0) 20 7311 1000

In consequence, executive directors, non executive/supervisory directors and special committees are under increasing scrutiny from investors, regulators and the media — as they consider and approve corporate transactions.


KPMG’s Fairness Opinions practice is, however, there to provide hands on support and specialist counsel — to assist you in providing the requisite levels of assurance to stakeholders. Our valuations professionals can help you to navigate successfully the differing requirements of stock exchange rules, formal regulation, company law and general market convention and provide comfort and confidence in relation to:


  • the issuance of quoted and unquoted securities in connection with takeovers and mergers
  • related party transactions — including the sale of a division to management
  • unsolicited, sometimes unwelcome, offers to buy a business or part of a business
  • the issuance of securities for non cash consideration
  • vending seed assets into private equity, infrastructure and real estate funds
  • take private transactions.


We believe that what distinguishes KPMG member firms is our ability to provide independent, objective and robust advice to company boards on their most sensitive issues — and our willingness to back our professional judgment with tangible assurance through fairness opinions, both public and private. Because our team comprises a mixture of investment bankers, lawyers and consultants who understand both local and international exchange regulations, complex valuation analysis and how deal dynamics impact on price and value KPMG firms are well placed to support your fairness opinion needs in the capital markets.