Transitioning Your Company “To” and “Through” a Sale or Merger

Planning For Your Payback: The Marriage Process

n The Call –From buyer, consultant, or broker n The First Date –Nothing to lose but a 2-hour lunch –Discussions about chemistry, philosophy, clients, staff n No Mention About: –Price, formulas, multiples, timing The Call & First Date

n Drinks and dinner vs. just lunch n Discussions about desires and committed actions n Visiting offices and meeting people n Exchange basic financial information n Term sheet - the “real” starting point –Formulas, multiples, timing The Courtship

n Touch and feel n Questions about buyers financial information exchanged n Skeletons in the closet Intimacy

n Learning each others’ intricacies n Timeliness, neatness, organization n Testing each other n Opinions of family, friends, colleagues Living Together

n Exchanging more detailed financial information n Jockeying for position - Name, Titles n Contracts drawn and reviewed n Due diligence n Final negotiation Prenuptial Agreement

n Attorneys, Accountants, and Consultants n Should I back out? (seller’s remorse) n Signing the marriage license n Exchanging vows - “Forever One” The Wedding

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