The $7 Trillion Hazard That Lies Beneath the M&A Boom

https://www.bloomberg.com/gadfly/articles/2017-04-11/the-7-trillion-hazard-that-lies-beneath-the-m-a-boom



...In the past two years, takeover targets have sold for a median of 11 times Ebitda -- essentially 11 years of profit -- whereas the multiple was only about 7-9 times in the years leading up to the recent merger frenzy. Transactions are getting ever-bigger and more expensive, pushing total goodwill to $6.9 trillion...