Over the years we have talked a great deal about due diligence and its importance and impact on deals actually closing. As one of our clients described to me, “The easy part of the M&A process is getting to the letter of intent (LOI). The hard part is once you have the LOI, getting through due diligence…and due diligence was incredibly time consuming.”
His perspective is not unique. Based on post-deal close interviews I have conducted, the sentiments are the same: Be prepared to work really hard for 3-4 months after the LOI.