We had an outstanding question during our recent webinar, relevant enough that we wanted to make sure to share the answer broadly. The question came in response to a discussion of how we at Corum help generate the best sales position possible for a company by creating an auction environment.
“Are there any other viable options to sell my company beyond using an auction format?”
The answer is yes. Instead, you can use the threat of an auction format. If someone has approached you and they want to be pre-emptive and want to move fast, then you should give them the opportunity to do that.
The buyer has to get honest very quickly, figure out what they can pay and what they are willing to do to be pre-emptive and take that auction option off the table.
The auction environment we strive for is such a singularly powerful position to be in, we encourage it no matter what, as even the credible threat of it can sometimes be enough to get you a better deal.