From the course: Mergers & Acquisitions
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Approach the target directly
From the course: Mergers & Acquisitions
Approach the target directly
- In some cases, you'll approach your acquisition target directly to open discussions about a possible merger. Recognize that you've entered negotiations, even from this very first conversation. Not only are you gaging the target's interest, you're gathering information that will help you asses that target's fit and understand things you might negotiate for. One tip is make sure you have a confidentiality agreement in place before you have these conversations. Consider approaching the target through a board member, their CEO or CFO; maybe you talk to their head of strategy, or the business owner. Going in at any level below that senior suite is going to create the risk of disclosure about your interest in that business. It can also be a waste of time, because those lower levels of the organization usually don't have the authority to conduct a deal. Try to limit the number of participants in these early conversations. You don't want other companies, especially your competitors, finding…
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