The extra value from combining two companies, through lower costs or higher revenue.
Where the course uses it
- Module 9: The M&A process
- Module 11: Case study: Newmont and Newcrest
- Module 13: Case study: Barrick, Randgold and Nevada
- Module 15: Case study: Anglo American and Teck
- Lecture 4: The balance sheet
- Lecture 6: Accounting topics interviewers love
- Lecture 8: Valuation by comparison: trading comps and precedent transactions
- Lecture 11: Mergers and acquisitions
- Lecture 12: Leveraged buyouts
- Lecture 14: Cracking the technical interview
- Lecture 15: Fit, markets and your story
In the news
- SSR Mining agrees to buy Roxmore Resources 13 October 2026
- Equinox Gold and Orla Mining agree to combine 13 May 2026
- G Mining Ventures agrees to buy G2 Goldfields for about C$3bn 9 April 2026
- Anglo American and Codelco agree a joint mine plan for Los Bronces and Andina 16 September 2025
- Anglo American and Teck announce a merger of equals 9 September 2025
- Gold Fields agrees to buy Gold Road Resources for A$3.7bn 5 May 2025