“Unreasonable! Flabbergasted! Absurd!” Words like these, casually thrown about by parties or their advisors when negotiating a transaction can prevent a fair and productive resolution of transaction issues. Negotiation is an art and the form it takes can make or break a deal. “Logical advocacy” is a term I like to use to negotiate transactions. Communicating the reasons for positions on issues and the logic behind the reasons goes a long way to the other side when understanding your concerns and working on the compromises being reached. The use of extreme words such as those listed above set forth at the beginning of this nugget can not only stymie negotiations, but also raise heightened concerns as to whether the more boisterous negotiator is trying to hide something. The M&A transaction is usually one of the most important events in a seller’s, and buyer’s, lifetime. So, staunch advocacy for each side’s positions is a must. However, the power of reason usually results in a better outcome and more successful transaction than the power of exaggerated posturing. And after-all, isn’t that what both sides want?
ABOUT GLENN D. SOLOMON
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Glenn D. Solomon is a principal at Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years. He has extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.
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