Preliminary documents

Beginning the sale process

Negotiations for sale may begin in many different circumstances. Individual owners may wish to retire from or otherwise realise the value of their business. Corporate sellers may choose to market the business to potential interested parties by way of an auction process (see Practice Note: Auction sales—asset purchase) or otherwise market to and enter into negotiations with specific interested parties. Alternatively, a potential buyer may initiate an approach to the seller as part of its own expansion strategy.

Preparation for sale

If a seller decides to seek a buyer for the target business and assets, it may take steps to reorganise and prepare the target business for sale and make it more attractive to potential buyers. Such steps may range from ensuring that the target

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