The deal is done, but the purchaser almost certainly now has a due diligence period.
This is where they, and their Accountant and Advisers, get the opportunity to pore over your books and records, scour through everything you have done and ultimately decide if they still want to proceed (that’s right, they get a chance to pull out if they don’t like what they see).
They may even want to try to renegotiate from a new, further informed position of power.
Therefore it is vital this process is successfully managed, providing the purchaser (and in particular their advisers) comfort every step of the way that –
- The business has been well run
- There are no skeletons in the closet and
- If run correctly, the business will be able to continue to achieve the results you have advertised to them it has to date.
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