If we’ve said it once, we’ve said it a thousand times: “Time kills all deals.” Essentially the longer it takes an M&A transaction to reach the closing table, the more likely that deal is to fizzle and die a painful death.
A lot of it just comes down to human nature. At the start of a deal, people are invested and motivated. As the process drags on, tensions rise. Small issues are more likely to snowball into big issues.
So what are some of the prime culprits slowing down a deal? Inattentive, overburdened advisors and/or buyer agents can be to blame. It’s essential that everyone on your deal team sticks to a schedule and keeps the transaction moving forward.
You can do your part too by ensuring financial and other business information is up to date. Ideally, you and your advisor will have gathered most relevant due diligence information before you even go to market. That way, buyers see an organized, committed team ready to move forward.