TechniqueDeals and M&AVideo located
Synergies are worth something only once they are valued rather than asserted
A synergy is a change in cash flow, growth or risk; value it as one, and only then compare it with the premium being paid.
M&A interviews that ask how to value synergies, and any deal where the premium is justified by them.
From Session 12: Acquisition Ornaments — Synergy, Control & Complexity · Aswath Damodaran (NYU Stern)