Asset acquisition

If a company buy asset of another company and customer list with more than the fair value of asset what will be the treatment?

Why would any company buy for instance a customer list for more than its fair value? The purchase price, if it is agreed in an arm’s length transaction between willing parties can be considered to be at fair value. Any price agreed in this way can be regarded as being at fair value, even though it might be inflated compared to other transactions. Then the question should be asked why the price is so high. Suspicion could arise that the price is not at fair value if the transaction was between related parties etc. Anyway, this would be fraudulent behaviour.