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Letter of Intent Considerations for Mergers & Acquisitions

Introduction.  A key component to any successful merger and acquisition (M&A) transaction is the letter of intent (LOI).  A thoughtfully negotiated and comprehensive LOI establishes specific and critical deal terms prior to drafting the definitive purchase or merger agreement, rather than engaging in the more arduous process of negotiating deal terms through extensive (and expensive) drafts of those definitive Read More

Selling Your Company: The Why of the LOI

First-time sellers often feel pressure to rush into signing a letter of intent, or LOI, submitted by a potential buyer, but the LOI is much more than a box to be checked on the journey to selling your company.  At the LOI stage in a deal, you and your buyer have limited information about each other. You are still getting to know one another, due diligence is just commencing, and the optimal deal structure for both Read More

3 Key Deal Structure Elements When Selling to Private Equity Buyers

Private equity (PE) firms have many ways of structuring a merger or acquisition deal to entice sellers to get to “yes” in the sale of their business. Each of these structural elements will have a real and significant impact on the actual purchase price a seller will walk away with as well as their rights and obligations post-closing. It’s therefore critical for sellers to closely analyze and understand how structure Read More

Selling Your Company: 3 Key Deal Advocacies You Need

You’ve heard it before: when you’re ready to sell your company, your very first step should be to hire a team of seasoned deal professionals. But why? What, exactly, should you expect from your deal team? In a word: advocacy. A professional boxer would not step into the ring without a team to coach and keep him on his feet from start to finish, and neither should you. From taking your company to market through Read More

Selling Your Company: Debunking 5 Deal Myths

You’ve worked hard, probably for years, to build your business. Sweat equity, tears, gut-wrenching decisions, and more missed family celebrations than you care to admit. Now you’re thinking about selling, and this is not the time to take shortcuts. A Harvard Business Review report finds that 70% to 90% of M&A transactions fail, usually because buyers and sellers take shortcuts during the evaluation process. The Read More

5 Mistakes Sellers Make During the M&A Deal Process

Successful M&A deals don’t just happen by accident. Each M&A transaction has its own complexities and numerous factors must converge to result in a mutually beneficial outcome for both the buyer and seller. Sellers who are willing to critically analyze a deal objectively and possess the gravitas to have tough conversations with buyers stand the best chance of obtaining an optimal outcome for themselves and Read More

Joint Ventures 101

A joint venture (JV) is a business arrangement where two or more parties pool resources for a focused task, project or investment. Each participant is normally independently responsible for contributing toward the costs and labor based on the strategic value each participant brings to the venture, and they also have an agreed upon sharing percentage in any resulting profits of the venture. JVs can be documented in a Read More

Tom Sassos, Former Chairman of the Board, Media Audits International, Inc.

Our company sold to a private equity acquirer in late 2018, and I’m more than happy that we had Pat Linden on our side throughout the process. It was complex with sometimes difficult negotiations. Pat’s considerable experience with mergers and acquisitions was pivotal from beginning to end, letter of intent to closing, and we could not have achieved the outcome we needed without Pat’s help. I was also thankful for Read More