We recently learned that two regional banks, Huntington National Bank and TCF will be combining in 2021. It’s likely just the start of a trend that will carry well into the new year. After all, the fallout from 2020 is still being experienced across all industries, by companies of all sizes. Some suffered from onslaught that 2020 brought, while others found their footing or even thrived. The former may be looking to cash out, while the latter might well see this moment as an opportunity to aquire businesses at a bargain price. The situation as a whole will likely result in acquisition activity among small and large companies alike.
Even when they involve relatively small or family-owned companies, these transactions can be quite complex. It is important to prepare appropriately and document each step along the way. A few things that closely held companies will need to do as they engage in a business combination, whether acquiring or selling, are as follows:
This article touches on just some aspects of an M&A transaction that can turn out to be complex when dealing with smaller or family-owned companies. Should you be contemplating a move this year and need assistance in the process, please feel free to contact us.
The business and employment attorneys of Dalton & Tomich take your business just as seriously as you do. Attorneys Zana Tomich and Noel Sterett are trusted by closely held family businesses and others across Michigan and Northern Illinois as invaluable partners and counselors. We guarantee all your calls and emails will be returned within one business day so you can focus on what you do best: running your business.
Having worked with Zana for 10 years, I can attest to her professionalism, her pragmatism, and most importantly, her integrity. I always get sound, thoughtful advice and guidance. From routine filings & updates to the highly unexpected, Zana’s there to help, always responding quickly and […]Read More
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As a professional photographer in the wedding industry, reliable communication is very important to me. Noel was very knowledgeable and quick to respond to all of my questions and not just that, he also gave me suggestions when reviewing and updating my contract. The entire […]Read More
Zana’s expert guidance has helped us to move forward with clarity and confidence in our business endeavors. She helped us create a new business entity, and a few years later to navigate a tricky buyout—all with a clear path forward for business growth. Her calm […]Read More
Noel’s guidance was much appreciated when redrafting my client contract. He was very professional, respectful of my time and potential costs, and was sincere with his advice. I trusted that he had the highest good for my business in mind. I will seek out his […]Read More
Zana’s expertise in employee law has helped us refine and build a stronger operations and hiring strategy at my company. As a business owner of a small and fast growing company, I very much appreciate Zana’s ability to always step into any situation quickly and […]Read More