What are Precedent Transactions and what do you use them for?

Closed M&A deals in the same industry/geography over the last 3–5 years — you derive a valuation range from the deal multiples.

What have buyers historically paid for comparable targets?

Reflects real transaction prices, including the control premium.

Data sources are incomplete; deals older than 12 months are often not representative because of market changes.

One of the three core methods alongside DCF and Trading Comps.