DISCOUNTED CASH FLOW: VALUING THE SYNERGIES CAUSED BY A HYPOTHETICAL MERGER OF TWO SUPERMARKETS

The theme of this work is Discounted Cash Flow (DCF). Its general objective is to measure, using the DCF technique, the financial synergies caused by a hypothetical merger between two privately held supermarkets. To this end, the main technical procedures for the adequate evaluation of companies using this technique are presented. The following methodology is used: the neoperspectivist paradigm, and Network Theory, as its
epistemological axis of investigation; the hypothetical-deductive method, and the pragmatic-inductive method, as its logical axis of investigation; non-participant observation, of the bibliographic and documentary survey type, as well as the ex loco case study type , as its technical axis of investigation. Discusses the main facets of the Mergers and Acquisitions (M&A) process. It concludes that this work focuses only on the financial dimension of evaluating a merger, and there are other important dimensions to evaluate, such as climate and cultural; In other words, the economic-financial value of a company is not its real value.