Pre-negotiation workshops
The way to avoid this type of issue is to choose intermediaries carefully on their track record of successful (rather than low-cost) projects, and make sure that the two sides – plus any advisers – have a clear view on a ‘surface’ of fair and executable outcomes.
To lay down this groundwork, a workshop of senior executives from all sides should be held early on in the process. The key is to develop a value platform to build on – a construct that is not quite contractual but that is 95 per cent of the way there. Crucially, this platform should be sufficiently well defined that the CEO could present it to the board at that point as an explanation of the deal, how it would work, what the risks are, and where and by whom ...
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