Mergers and acquisitions in New York are stressful for companies and the people who do the negotiating. It’s a high-stakes type of situation that could involve millions or even billions of dollars worth of property and other assets along with all of the personnel working for both of the companies. Some attitudes can improve the process so that everything can move forward, but other attitudes will halt progress and leave everyone unhappy.
Determine whether a merger or acquisition is on the horizon for your company
If you have a business in a competitive industry, you might even be building your company up under the assumption that your company will either merge with another company or will be acquired by a larger business within your industry. Otherwise, you might already know that you’ll need to merge or acquire a smaller business to strengthen your own. Mergers are when two companies combine to create a new company. These two companies usually have equal and distinct things to offer. They typically merge to expand offerings and decrease competition. In contrast, an acquisition is when one company buys out the other, and there are several types of acquisitions, including friendly and hostile acquisitions.
Top no-nos of negotiation
While sometimes people feel forced into an acquisition, both mergers and acquisitions can be positive experiences for both companies with the right attitudes and negotiating skills. Going into negotiations angry doesn’t help anyone, and it can often lead to a stand-still. Some other common problems include being greedy to the point where you’re not willing to give in on anything so that the other party also gets a reasonable deal and being slow about moving forward on negotiations.
Whether you’re currently in the midst of an acquisition or merger or are simply interested in learning more about them in the event that competition in your industry is becoming too stiff, you can learn more about them fairly easily with a little research.