We recently learned that two regional banks, Huntington National Bank and TCF will be combining in 2021. It’s likely just the start of a trend that will carry well into the new year. After all, the fallout from 2020 is still being experienced across all industries, by companies of all sizes. Some suffered from onslaught that 2020 brought, while others found their footing or even thrived. The former may be looking to cash out, while the latter might well see this moment as an opportunity to aquire businesses at a bargain price. The situation as a whole will likely result in acquisition activity among small and large companies alike.
Even when they involve relatively small or family-owned companies, these transactions can be quite complex. It is important to prepare appropriately and document each step along the way. A few things that closely held companies will need to do as they engage in a business combination, whether acquiring or selling, are as follows:
This article touches on just some aspects of an M&A transaction that can turn out to be complex when dealing with smaller or family-owned companies. Should you be contemplating a move this year and need assistance in the process, please feel free to contact us.
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