23 Dec

FORTUNE WRITEUP, AND PARALLELS TO M&A

  • Posted by Clear Rock
  • 0 Comments

Fortune has a quick little piece comparing lessons learned on Everest to investing (and as alpinists ourselves, how could we pass this up?).

One of the points that the author makes is “You don’t need total clarity to put one foot in front of the other.” This point alone is perhaps the number one thing we see with buyers that fail to close a transaction.

It is going to be a very rare situation in which you have perfect knowledge about an acquisition target.  And every time you learn a fact it will beg the question of two more.

From our point of view, good buyers are able to compartmentalize, focus on the end state, and continue to gather information while they head to the finish line.  Unsuccessful buyers often tend to fixate on minutae and stall the transaction.

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