A group of mergers and acquisitions experts got together in Sydney today to talk about the state of the industry, go over a few war stories and offer tips on tactics.
The Dealmakers ANZ event, run by Intralinks which provides the Dealspace virtual data rooms for due diligence, included Matthew Millar, managing director of PwC’s Mergers and Acquisitions, who had more tips than most.
The tactics are mostly about making a buyer think there are more people out there interested in the company or asset they are looking at.
But how to do that without being too direct and tipping off the potential buyer?
Millar’s says that the power of the ‘Out of Office’ function on your Outlook email can be harnessed.
Turn this and say you’ll be away for a few days. Perhaps you can also let slip verbally to the potential buyer that you have to leave early that day because you need to finish an important presentation.
This makes them think you’re travelling to see another buyer.
“If it’’s a mining services deal, you say you’ll be in a remote location for a few days without access to email,” Millar says.