Arequest by the management team for permission to pursue a buy-out may seem harmless or even positive, but before you answer, it is vital to understand the likely ramifications. The buy-out may not be in your best interests, and even if it is, there is a potential conflict with the management team. So ground rules need to be established at the outset. Before deciding on your reaction, you need to identify the alternatives — specifically, the likely deal value you could get from trade buyers. Many vendors are over-optimistic when it comes to listing companies that could be keen buyers. They are even more optimistic about the value of the deal that could be achieved.
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