A scattering theory of perpendicular transport in metallic multilayers
is Presented with emphasis on the effects of interface disorder. The
diffuse and specular contributions to the interface roughness scatteri
ng are shown to be equally important. New predictions for the transpor
t properties of interfaces with a low concentration of strongly scatte
ring defects should be accessible to verification by experiments. The
theory is applied to the spin-valve effect in magnetic multilayers.