By Denzil Rankine
While you're a supervisor who's new to the advanced zone of M&A, you must examine fast approximately what to seem out for and what to prevent. Unprepared managers could be sucked alongside by way of the method and prove being disillusioned, or perhaps out of a task. this can be the last word functional and straightforward to stick with consultant to Acquisitions. Acquisition task peaked in 2000 and has on the grounds that been depressed. yet for the reason that 2004 we're seeing a restoration during this industry and it truly is considerably becoming. there's now a brand new inflow of individuals entering into the purchase area, all short of details on what could make acquisitions paintings, classes from the earlier and information for the long run.
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Additional info for Acquisition Essentials: A Step-by-step Guide to Smarter Deals
Day-one communication For the day-one announcement and explanation of the future, personal contact is best; this means individual or group meetings. They should be supported by useful documentation. Ideally this is a tailor-made presentation, which describes the acquirer and explains exactly what this will mean for the acquired company and particularly for its employees. In addition, the acquiring company should have sufficient copies of basic documents such as its: • • • • Company brochure Company annual accounts Terms and conditions of the company pension scheme Standard operating procedures where relevant Acquired employees are often reassured once they are clear about future strategy, policies and procedures.
It can lead to unintended obligations Depending on the wording of the letter of intent, both the buyer and the seller risk being unwittingly bound by provisions that they intended as non-binding. Enforceability of the letter of intent A major concern when drafting a letter of intent should be its enforceability. In general, the seller wants it to be as binding as possible, the buyer, on the other hand, usually wants the opposite. There is always a debate as to whether a letter of intent is a binding and enforceable contract or whether it is an unenforceable agreement to agree.
This will be on both a business and a personal level. If the personal relationship works it is all the easier to sell the benefits of fit between the businesses. Of course, if the strategy is right and the target is right, both sides should see the benefits. 2 below sets out the simple virtuous circle of the ‘sweetheart deal’. At the very least, an introductory meeting can be used to leave a marker, making it clear that you would be interested in a discussion should the shareholders decide to sell.
Acquisition Essentials: A Step-by-step Guide to Smarter Deals by Denzil Rankine