>> Sure, but I'd hope there's usually a fairly clear path to obtaining the cash -- clearer than turning around and selling (part of) the company you just bought

>> Sure, but I'd hope there's usually a fairly clear path to obtaining the cash -- clearer than turning around and selling (part of) the company you just bought. Mezzanine financing? Interest rates suck for that stuff though. In the world of M&As, I don't think stuff like this is uncommon, given what I hear from my finance friends.