Often reputed companies appoint joint valuers for fair valuation of the company. Explain the procedure and purpose of joint valuation.

A practice of joint valuation report is more prevalent in Merger and Amalgamation transaction involving one or more listed company. The following efficient processes would reduce complexities in delivery the final report: Issue independent appointment letters to the valuer from the company on whose behalf the valuation work is to be carried out. Joint introductory meeting or call of all the parties and to provide understanding of the business of the companies to be valued, purpose of valuation and timelines. Subsequently valuer can independently meet respective company's management for further understanding and clarifications. Understand the business rational for the purpose of transaction. Obtain financial information from management of the entities. Discussion among the Joint valuers on valuation methods Arrive at consensus on the valuation methods to be used for valuation of each of the companies formally part of the transaction. Board valuation assumptions, reconciliation of input date for the valuation exercise, value derived by using selected approach. Convergence on value/share swap independently arrived by the valuers. Draft of joint valuation report to be prepared, reviewed and confirmed by the joint valuers. Final joint valuation report, to be signed by joint valuers and issued to the clients.