Truth 18. Be aware of the “even-split” ploy
The following interchange actually occurred. What, if anything, is wrong with this picture?
Party A: I’ll offer you $15M to buy your company.
Party B: Are you kidding? It’s worth much more than that, and I have several offers. I would want at least $47M.
Party A: That’s a lot more than I’d ever want to spend. The most I could offer would be $18M.
Party B: Well, then we probably won’t reach a deal, because the company is worth $47M. But I might agree to $46M.
Party A: Still unacceptable. My highest bid would be $22M. But that would have to be with a closing in the next 30 days.
Party B: I don’t think I could accept that offer. I’m not trying to drive a hard bargain, but I think we both realize this company ...
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