How To Keep Competing Offers In Play

//How To Keep Competing Offers In Play

How To Keep Competing Offers In Play

Keith Weigand founded DataNet Solutions in 1999. The company provided electronic medical records and prescription software for the non-profit healthcare industry in the United States. Over the course of 14 years, DataNet grew to a company with 10 employees, 3500 users, and almost $1 million in revenue. Facing a changing marketplace with the introduction of the Affordable Care Act, Weigand was ready to take the lessons he’d learned with DataNet and move on to something new.

Weigand got two offers for his business and accepted one. Months later, as negotiations dragged on, he discovered the buyer was quietly planning to move to another city and fire his employees in the process. Not wanting to see his team be disposed of, Weigand pulled out and tried to resuscitate the offer he had originally turned down.

In this episode, you’ll learn:

  • How to get an offer back in play after you’ve turned it down
  • Why acquirers try to extend due diligence, and how you can defend against it
  • How to create urgency to keep your deal moving forward

Listen Now

2018-11-05T21:14:51+00:00November 5th, 2018|Categories: Podcast|0 Comments

About Transitions in Business

Transitions In Business is an independent firm, servicing medium sized businesses and their respective buyers. Our vision is to effectively guide corporate ownership through the many obstacles of mergers and acquisitions by confidently offering a clear and honest partnership. Our process includes confidentially engaging and vetting qualified buyers that will maximize the transaction benefits for both the seller and the buyer of a business.