The Conversations with a Business Attorney podcast is your legal guide to navigating the challenges and opportunities that arise throughout the life cycle of a business. Jeff Large, a start-up business owner, explores various topics such as operator agreements, employee retention, and the value of protecting your company with Rhoades McKee Attorneys. Don’t get lost, listen and learn.
Jon Siebers, a mergers and acquisitions attorney at Rhoades McKee, discusses due diligence in structuring acquisitions and ensuring a business culture fit.
Three Things You’ll Learn:
- Ways to know if a business is a good fit for yours in the acquisition process and the risks that come if it goes badly.
- How to perform due diligence when looking at strategic business deals.
- The consultants to consider when building your team and how they can structure your merger for success.
Jon shares items to consider when vetting a business and finding the right market. There are three ways a company should fit with yours before beginning an acquisition: through customers, operations, and culture.
[30:16] “Before we start looking at all the legal and tax issues, it is important for the deal to make sense from a business perspective. There should be fundamental business reasons for doing a deal before you go down any road towards drafting documents and doing full-on due diligence.”
Jon highlights how attorneys, accountants, and investment brokers are each involved in the buyer versus seller side. How the deal is structured can feel like a battle between the conflicting parties, but Jon shares tips and stories to show how buyers can reduce their own risk and keep sellers investing in creating a smooth integration process post-closing.
Jon walks through the legal side of closing an acquisition but emphasizes the importance of ease of closing before even signing the paperwork. He warns owners to consider balancing negotiations and due diligence without losing focus on their current business.
Click here to read the transcript of the full interview for Episode 10
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