#mergersandacquisitions #corporatelaw #business

We're talking about doing the twostep (and the onestep) close, that is. What are they and why choose one over the other? Glad you asked.

Once both the buying and selling parties of an merger and acquisition deal have settled on the terms of the deal, they have the choice to complete the transaction all at once (onestep closing) or over a sequence of twosteps.

The factors that affect which choice is best is, like all things in law, contextual. Generally, you'll see onestep closes in the lower end of the lowermiddle market (below about $10 million). As deals grow in size, so do the complexities of consideration. For a couple of reasons, you'll see twostep closes in the upper ends of the market.

Here's a quick rundown in case you want to jump ahead:
0:26 Onestep sign & close explained
1:03 Twostep sign & close explained
2:25 When & why to use one over the other
4:40 Twostep closings in smaller deals

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Have questions? Book a call, and talk to Brett today:
https://clarity.fm/brettcenkus'>https://clarity.fm/brettcenkus

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You can reach Brett through:

https://clarity.fm/brettcenkus'>https://clarity.fm/brettcenkus
  / brettcenkus  
  / bcenkus  
https://www.cenkuslaw.com
https://braatenwoods.com
https://mergerresources.com


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Brett A. Cenkus has 20+ years of experience in business law, finance, and entrepreneurship. Through Cenkus Law, PC, he provides advice and services for mergers & acquisitions (M&A), securities offerings, founders’ agreements, and other general business law issues.

Through Braaten Woods, LLC, Brett helps business owners in the lower middle market ($2MM $25MM) position themselves for sale, find buyers, negotiate, and close M&A deals.

Brett also maintains mergerresources.com, a site packed with free articles, videos, checklists, deal diagrams, template contracts, and other tools to help pass M&A knowledge to others.

Brett regularly consults with entrepreneurs and invests his own capital as an angel investor.

From 20102013, Brett served as Chief Legal Counsel of a publiclytraded international oilfield services company. From 2001 to 2006, he and a partner founded and built Paragon Residential Mortgage. Bridge Investments acquired Paragon in 2006.

Brett holds a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.

Brett lives in Austin with his wife, Cathryn, and two children. He enjoys reading, squash, classic movies, great food and wine, and the New England Patriots.