A process of validating the representations made by a seller, normally to an investor

The target's value is calculated based on the projected future cash flows with appropriate discount rate

When two companies merged coming from different stages of production or value chain

The parent company offers shareholders the option to keep their current shares or exchange them for shares of the divesting company

This is concerned with the legal and financials of the company under evaluation. So essentially, this is quantitative, which measurement can be normally done by use of mathematical calculation.