Mergers & Acquisitions
Selling a Business
It is obvious that the sale of a business is not something that should be taken lightly. Nor is it something that should be decided on one day and executed the next. In order to maximize value, owners should prepare for their exit at least seven to 10 years in advance of the targeted sale date. This will allow them to put a plan in place to enhance value creators and eliminate value destroyers. You'll be amazed at how quickly time flies!
And once it comes time to sell, a strategy should be put in place that will obtain the best possible price for the owner. This may involve a controlled auction where the seller provides a confidential information memorandum to a number of prospective buyers with a deadline for submission of letters of intent to acquire the company. Or it may simply be a matter of approaching a key competitor and assuming there's interest, immediately entering into negotiations. Whatever is decided, it should be well thought out before proceeding because making the wrong choice will cost you money.
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