4 ms·
> 5. Audit has some explaining todo. Yes, that's a total fuck up on their side as well. That an incompetent company dies while doing stupid stunts like that is
by Iv 7y ago
> 5. Audit has some explaining todo.
Yes, that's a total fuck up on their side as well. That an incompetent company dies while doing stupid stunts like that is understandable and how the market filters out stupidity.
That another company looks at it and thinks "Oh that looks fine", that's a total failure at their work.
- kyberias 7y agoWhat "audit" are we talking about here, though?
- DoingIsLearning 7y agoUsually when you acquire a company you sign of some intent lettet that shows you are serious about the purchase provided they can pass your smell test. Then after NDA's and a few other docs if a company accepts being purchased they have to give access to their internal docs. Finance books, IT, etc. If during this "due diligence" period the buyers find a major red flag they might pull out, revise the price down, etc.
- distant_hat 7y agoHaving seen a couple of acquisitions what I see is that things go forward because the top execs are close and went to the same school and so on. The technical details shared are light and often don't matter until things are settled and the plebs have to merge everything.
- swarnie_ 7y agoIt sounds like he's referring to the due diligence as part of the M&A. Personally I've never seen one of these discovery phases bring back anything remotely close to real life. No random IT manager alive is going to throw his dirty laundry out to a potential buyer and potentially torpedo a deal. Some of the things I've seen/found during my company buying spree since 2015 have been magical.