The One and Two-Step Acquisition Close | Mergers and Acquisitions (M&A)
4.4 هزار بار بازدید -
6 سال پیش
-
#mergersandacquisitions
#mergersandacquisitions #corporatelaw #business
We're talking about doing the two-step (and the one-step) - close, that is. What are they and why choose one over the other? Glad you asked.
Once both the buying and selling parties of an merger and acquisition deal have settled on the terms of the deal, they have the choice to complete the transaction all at once (one-step closing) or over a sequence of two-steps.
The factors that affect which choice is best is, like all things in law, contextual. Generally, you'll see one-step closes in the lower end of the lower-middle market (below about $10 million). As deals grow in size, so do the complexities of consideration. For a couple of reasons, you'll see two-step closes in the upper ends of the market.
Here's a quick rundown in case you want to jump ahead:
0:26 - One-step sign & close explained
1:03 - Two-step sign & close explained
2:25 - When & why to use one over the other
4:40 - Two-step closings in smaller deals
_____________________________________________
Have questions? Book a call, and talk to Brett today:
https://clarity.fm/brettcenkus
_______________________________________________
You can reach Brett through:
https://clarity.fm/brettcenkus
LinkedIn: brettcenkus
Twitter: BCenkus
https://www.cenkuslaw.com
https://braatenwoods.com
https://merger-resources.com
_______________________________________________
Brett A. Cenkus has 20+ years of experience in business law, finance, and entrepreneurship. Through Cenkus Law, PC, he provides advice and services for mergers & acquisitions (M&A), securities offerings, founders’ agreements, and other general business law issues.
Through Braaten Woods, LLC, Brett helps business owners in the lower middle market ($2MM - $25MM) position themselves for sale, find buyers, negotiate, and close M&A deals.
Brett also maintains merger-resources.com, a site packed with free articles, videos, checklists, deal diagrams, template contracts, and other tools to help pass M&A knowledge to others.
Brett regularly consults with entrepreneurs and invests his own capital as an angel investor.
From 2010-2013, Brett served as Chief Legal Counsel of a publicly-traded international oilfield services company. From 2001 to 2006, he and a partner founded and built Paragon Residential Mortgage. Bridge Investments acquired Paragon in 2006.
Brett holds a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.
Brett lives in Austin with his wife, Cathryn, and two children. He enjoys reading, squash, classic movies, great food and wine, and the New England Patriots.
We're talking about doing the two-step (and the one-step) - close, that is. What are they and why choose one over the other? Glad you asked.
Once both the buying and selling parties of an merger and acquisition deal have settled on the terms of the deal, they have the choice to complete the transaction all at once (one-step closing) or over a sequence of two-steps.
The factors that affect which choice is best is, like all things in law, contextual. Generally, you'll see one-step closes in the lower end of the lower-middle market (below about $10 million). As deals grow in size, so do the complexities of consideration. For a couple of reasons, you'll see two-step closes in the upper ends of the market.
Here's a quick rundown in case you want to jump ahead:
0:26 - One-step sign & close explained
1:03 - Two-step sign & close explained
2:25 - When & why to use one over the other
4:40 - Two-step closings in smaller deals
_____________________________________________
Have questions? Book a call, and talk to Brett today:
https://clarity.fm/brettcenkus
_______________________________________________
You can reach Brett through:
https://clarity.fm/brettcenkus
LinkedIn: brettcenkus
Twitter: BCenkus
https://www.cenkuslaw.com
https://braatenwoods.com
https://merger-resources.com
_______________________________________________
Brett A. Cenkus has 20+ years of experience in business law, finance, and entrepreneurship. Through Cenkus Law, PC, he provides advice and services for mergers & acquisitions (M&A), securities offerings, founders’ agreements, and other general business law issues.
Through Braaten Woods, LLC, Brett helps business owners in the lower middle market ($2MM - $25MM) position themselves for sale, find buyers, negotiate, and close M&A deals.
Brett also maintains merger-resources.com, a site packed with free articles, videos, checklists, deal diagrams, template contracts, and other tools to help pass M&A knowledge to others.
Brett regularly consults with entrepreneurs and invests his own capital as an angel investor.
From 2010-2013, Brett served as Chief Legal Counsel of a publicly-traded international oilfield services company. From 2001 to 2006, he and a partner founded and built Paragon Residential Mortgage. Bridge Investments acquired Paragon in 2006.
Brett holds a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.
Brett lives in Austin with his wife, Cathryn, and two children. He enjoys reading, squash, classic movies, great food and wine, and the New England Patriots.
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