Gavrilova, EkaterinaAlves, João Miguel Da Silveira Menezes Capinha2023-08-022023-08-022023-01-132023-01-11http://hdl.handle.net/10362/156154This thesis aims to analyze the potential acquisition of the small private consultancy firm, Haute Equipe, by a multinational consultancy, Korn Ferry. To evaluate it several valuation methods were conducted: income-based and market-based in order to have a range and to discuss the most suitable one. Furthermore, the M&A deal is studied: a synergy valuation range is determined as a premium that could be paid above the standalone value. Finally, following a discussion on the limitations of the CAPM, a build-up model was implemented to determine a more accurate cost of capital and thus a more accurate Enterprise Value.engValuationBuild-up modelCost of capitalAcquisitionmaster thesis203311930