Why didn't you already add the Cash on hand & current assets, PP&E, etc on the B/S into your valuation? These are separate from the Pension Assets. I guess if the plan in your calculation was to just find an SP value of the Pension cash alone, then sure. Also, the company had a previous Bankruptcy in which they can use to offset taxes If you truly wanted a total value of the company, I feel you're strongly lowballing the book value here, by overlooking more fine details and loopholes in the tax code.
Why didn't you already add the Cash on hand & current assets, PP&E, etc on the B/S into your valuation? These are separate from the Pension Assets. I guess if the plan in your calculation was to just find an SP value of the Pension cash alone, then sure. Also, the company had a previous Bankruptcy in which they can use to offset taxes If you truly wanted a total value of the company, I feel you're strongly lowballing the book value here, by overlooking more fine details and loopholes in the tax code.
Thanks for posting this