barable Company & Precedent Transactions Review Later Lifesaver Inc., a producer of personal protective equipment, trades on the TSX Venture stock exchange at an EV/EBITDA multiple of 4.0x. From performing a precedent transaction analysis, you note that recent acquisitions of similar companies have transacted at an EV/EBITDA multiple of 6.0x. The following is not a valid potential reason for this discrepancy: Special purchaser considerations, such as synergies, being inherent in the precedent transaction multiples Multiples implied by precedent transactions are not relevant when considering publicly traded companies The presence of a control premium within the EV/EBITDA multiple implied by the acquisitions The presence of an implied minority discount (a discount due to a lack of control in the company when purchasing shares in the open market in the 4.0X EV/EBITDA trading multiple Page 4 of 25 Brew Page Next Page