Background of buy-out transactions

  • Oliver Klöckner

This chapter examines the background of the buy-out to prepare the ground for the analysis of the changes induced by the buy-out, which will be described in the following chapters. This chapter presents the different steps of the buy-out in chronological order. The chapter analyses the decision to sell by inquiring into the reasons for selling the company, the evaluation of potential buyers and the sale preparations of the company (see Figure 22). Next, light will be shed on the sale transaction by examining private equity companies' investment criteria, family owners' goals in sale negotiations, details of the sale process, communication of and reaction to the buy-out, and family's separation from its company.


Family Business Initial Public Offering Private Equity Business Partner Supervisory Board 
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© Gabler | GWV Fachverlage GmbH 2009

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  • Oliver Klöckner

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