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MURPHY’S LAWS OF M&A
- No business plan will ride out reality: If you have calculated a best, a realistic and a worst case scenario, the worst case will be the best that can happen to you, usually it comes worse.
- Integration will eat resources, missing in the business.
- MIS kills start-ups.
- Whatever a seller promises to you about his availability for the company after disposal: there ain‘t no loyalty of freshly-baked millionaires.
- Business plans are often made to meet the price requirements of the seller, but afterwards they can‘t meet reality.
- Your price-offer will be always too low, your price expectation always too high.
- Exploding, emerging new markets often implode very soon.
- The best state-of-the-art innovative technology will be outdated shortly after acquisition.
- You never can buy excellent customer and supplier relations between good old pals, drinking beer and playing golf together.
- If the seller refuses a guarantee in the SPA, he knows why – you don’t.
- Whatever the seller tells you about giving his Life Work only into good hands, social responsibility against his staff and customers, … – it only will be the price, that counts at the very end.