CIBC
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Why Surface-Level Multiples Misprice Cross-Border M&A: A Caribbean Banking Insider’s Take on the CIBC-Butterfield Deal
When evaluating corporate mergers and acquisitions, investors frequently rely on surface-level valuation metrics like Price-to-Earnings (P/E) or Enterprise Value-to-EBITDA multiples. However, evaluating a company strictly by these standardized benchmarks often conceals massive pools of latent value hidden deep within the balance sheet. This dynamic is particularly evident in cross-border asset sales, where structural differences, regulatory…
