Originally Posted by
Snoopy
Interestingly the lead author of the report, Greg Anderson from Northington Partners, is the same Greg Anderson who was lead author of a similar report published in 2006 by Crighton Anderson. Crighton Anderson subsequently merged into Northington Partners. 2006 was the last time CCHL made a formal bid for the whole company. Interestingly, back then they also used a discounted cashflow valuation when valuing LPC.
At least one copy of this 2006 valuation survives, in what I have coined as my ‘library of shame’ (a rather nondescript cardboard box in my spare bedroom). A comparison between the two offers is interesting reading, of which more later.