Looking at Google and Amazon acquisitions, it looks like they pay way more than the textbook value from traditional accounting methods.<p>There must be a logic behind the price they pay in an acquisition (do they have a magic method, golden ratio?).<p>Do you have any books or good articles on the subject?<p>M&A by Amazon: https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_Amazon
M&A by Google: https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_Alphabet