Congratulations, you got an offer! So…now what? We’ve found that you need to be very careful about accepting a first offer, especially an unsolicited one, as it can simply be bottom fishing, a buyer looking for a bargain. So what should you do?
With our combined years of experience bringing together hundreds of companies and generating billions in value, we recommend taking the following six steps if you are approached by a potential acquirer, after you thank them and tell them you’re flattered by the interest, of course.
It is very important to be aware that 75% of the time, someone will offer more than your first bidder. The steps above will help you leverage your position as much as possible, and bring about the most successful transaction possible.