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Selling Your Technology Company for Maximum Value: A comprehensive guide for entrepreneurs by Rupert Cook

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8: Running An Auction

Deciding whether to run an auction

When considering running an auction process, the key is to assess the level of interest in your company and the number of parties that are likely to show serious intent and be willing to pay a price within your value expectations. Apart from getting no interest at all, there’s nothing worse than having to keep an auction going with only one interested party, with all the pretence and bluffing that involves. You don’t have to commit to running an auction process from the beginning, so if in doubt, wait until you’ve got three or more organisations on the hook before making the commitment. As a general rule, acquirers dislike auctions because the winner inevitably overpays and the losers ...

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