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Mike McCarron sold MSM Transportation to the Wheels Group for $18.6 million. After receiving the letter of intent (LOI) he signed it immediately. If McCarron had the opportunity to do it all again, he’d handle this request differently.
Once the LOI is signed, the buyer knows they are now the only player at the table and can start dragging negotiations out, hoping to squeeze concessions out of the seller. However, McCarron maintained some negotiating leverage because he knew what made the business attractive to his strategic acquirer. Find out how acquirers would view your business by getting your Value Builder Score.