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Build trust and navigate fairness opinions with PwC
Fairness opinions
Independent financial assessments to help build trust in integral transactions
When navigating mergers, acquisitions, divestitures, or other material transactions, board members, fund managers, and other fiduciaries should have objective assessments of the fairness of a transaction, from a financial point of view, to relevant beneficiaries. Our fairness opinion service offering helps provide rigorous, data-driven, and sector-informed analyses to protect fiduciaries and beneficiaries by confirming important transactions are scrutinized by subject matter experts delivering impartial analysis.
Our fairness opinion service offering is backed by our 175+ year legacy of building trust in the capital markets with independent, objective thinking. PwC’s deep sector knowledge, industry-leading valuation capabilities, global presence across 157 countries, and the end-to-end deal expertise of our 25,000 Deals professionals—who analyze over 7,500 transactions annually—enable us to deliver fairness opinions that are both highly regarded by clients and tailored to reflect cross-border market practices and local regulatory requirements.
Quality and objectivity are the cornerstones of the fairness opinion services
Our fairness opinion process is grounded in transparency to confirm fiduciaries are informed about our methodologies, quality controls, and any potential conflicts given existing or prior relationships with parties to a transaction. We leverage industry-leading practice in engagement acceptance and execution, including through a fairness opinion committee comprised of partners/principals separate from the engagement team. Our services are not contingent on the successful completion of a transaction, nor do we provide financing or other traditional banking services, thus avoiding the conflicts that are frequently cited in shareholder litigation.
PwC’s fairness opinion service offerings cover a wide range of transaction types
Our fairness opinion service offering helps bring rigor and clarity to transactions when corporations, portfolio companies, or private equity (PE) firms seek counsel for:
- Private and public M&A
- Related-party transactions
- Fund-to-fund transfers
- Continuation funds
- Down-round financing
- Management buyouts
- Non-controlling interest buyouts
- Public divestitures
Why choose PwC for your next fairness opinion?
- Independence you can trust
- Specialized industry and tax insight
- Integrated, technology-enabled delivery
- Unparalleled deal experience, globally applied
Independence you can trust
PwC’s fairness opinions are grounded in our global reputation for integrity, objectivity, and independence—delivered without contingent fees or financing ties. Our disciplined process and robust internal controls support fiduciary responsibilities and help build trust with boards, regulators, and stakeholders.
Specialized industry and tax insight
Our dedicated teams bring deep sector expertise across technology, healthcare, private equity, financial services, and more. By leveraging our expertise across valuation, structuring, and tax capabilities—alongside local regulatory knowledge—we help navigate complex deal structures across numerous sub sectors.
Integrated, technology-enabled delivery
We apply a structured, analytics-driven framework to every opinion, combining human judgment, advanced tools, and market-tested methods. Our unified teams across valuation, strategy, tax, and transaction services streamline execution and help enhance quality and efficiency.
Unparalleled deal experience, globally applied
With a presence in 157 countries and involvement across the full deal lifecycle—from diligence to integration—PwC delivers fairness opinions informed by real-time market intelligence and global execution insight. Our multidisciplinary teams asses relevant perspectives, including valuation, governance, and structuring when it comes to our analysis—especially in complex, cross-border scenarios.
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