Brokers considering mergers and acquisitions should expect the process to take several months, according to experts in the field, who also recommend they seek experienced consultants to coach them through such complex deal-making.
Although one expert delivering the practical advice was an intermediary who gets paid for M&A advisory work, representatives of potential buyers strongly supported the view during a panel discussion earlier this year at the midyear educational conference of the Kansas City, Mo-based National Association of Professional Surplus Lines Offices, Ltd. earlier this year.
“This is probably something that you're going to do once in your lifetime–maybe twice,” said Mark Watson, chief executive officer of Bermuda-based Argo Group International Holdings, Ltd., a specialty insurer. In contrast, a consultant that works on M&A deals daily is well aware of the pitfalls to avoid, he said.
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