Mr. Terry W. White

In any merger transaction, valuations are key but probably differ between the buyer and the seller, pointed out Terry White, head of the management services department at GRA, Thompson, White & Co., based in the Kansas City suburb of Merriam, Kan.

Among factors affecting pricing from the acquirer's point of view, he said, are these:
...
White cited the following as factors affecting price from the seller's perspective:

In any merger transaction, valuations are key but probably differ between the buyer and the seller, pointed out Terry White, head of the management services department at GRA, Thompson, White & Co., based in the Kansas City suburb of Merriam, Kan.

Among factors affecting pricing from the acquirer's point of view, he said, are these:

Size (as it goes up the universe of acquirers goes down); Profitability (past -- for example, the cost of executive benefit programs; future -- is the acquiree growing, stable or stagnant; and proforma -- after taking out the fluff, what will the bank earn in the future?); Location (urban, rural or county seat); Market share (is it increasing?); Products (what is the competition offering?); Management (including the "key person discount" for the "one being put out to pasture");
...
White cited the following as factors affecting price from the seller's perspective:

Growth potential; Profitability (historical and potential); Return on investment; Is now the time to sell? (In a high-growth area value may be higher as time goes on); What does the future hold (for the market or competitors)?; Can I afford to take steps to prepare for the future (Maybe I should become more efficient);

In any merger transaction, valuations are key but probably differ between the buyer and the seller, pointed out Terry White, head of the management services department at GRA, Thompson, White & Co., based in the Kansas City suburb of Merriam, Kan.

Among factors affecting pricing from the acquirer's point of view, he said, are these:
...
White cited the following as factors affecting price from the seller's perspective:

Terry W. WhiteTerry W. White , CPA ,Management ServicesExec VP

is Executive Vice President in charge of the firm's Management Services practice which places special emphasis on strategic planning , financial planning , budgeting , asset/liability management , management studies , consolidation and general accounting consultation.Since joining GRA in 1983 , he has consulted with banking organizations ranging in total assets between $ 10 million and $ 1.2 billion and has been actively involved in new product development.Prior to joining GRA , Mr. White was a manager with the Kansas City office of a Big Six accounting firm with responsibilities for audit , accounting and consultation to companies in the financial services industry.Mr. White graduated from Kansas State University , Manhattan , Kansas in 1974 and is a member of the American Institute of Certified Public Accountants.He has permits to practice accounting in Kansas and Missouri.