I light a candle for those who are dealing with generalist attorneys within M&A 🕯️
Seller: “My attorney has worked with me for years and knows everything about me and my business.”
Buyer: “Has (s)he ever done any M&A?”
😑
If the seller insists on staying loyal to their long-time legal friend even in the face of bottlenecks or impasses, then a useful tactic can be to cover their costs ($3-5k) in retaining an M&A-experienced attorney to review and opine on the documents. You can even recommend 2-3 lawyers for such second opinions. It’s a cheap way to maintain forward momentum.
