Corporate Dealmaking: Alot like dating but with more lawyers
Eye contact, debating how long to wait before you call. the excitement of that first walk into a strange conference room. Dating? No, corporate deal making. They’re a lot alike but one involves more lawyers.
December 21st
Dear Diary:
Ran into Willingham at the foundation X-mas party last night. Compared notes on what it’s like being CEOs of software companies (not that we’re in their league) during an economic upswing.
I never noticed before how he makes such amazing eye contact. It’s like you are the only person in the room. Maybe that’s his secret recipe for such high employee retention and keeping his board in line.
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December 22nd
Dear Diary:
Already got an email from Willingham—sent after last night’s party at 1:30 a.m. Amazing stamina. I wonder if he’s one of those people who only needs 4 hours of sleep?
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December 24th
Dear Diary:
Finally replied to Willingham’s email from two days ago (didn’t want to appear too anxious!). The thought of a partnership or even something more strategic is positively tantalizing. Note to self: over X-mas break, I need to make pros/cons list for possible deal in case he broaches the subject.
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January 15th
Dear Diary:
Haven’t heard from Willingham since before X-mas. Could he have heard something negative about our 4.0 release? McIntyre was invited to his new year’s party and said he seemed on top of the world. I wonder if he’s even thinking about us?
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March 1st
Dear Diary:
Got the nicest personal note (hand-writtenJ) from Willingham out of the blue today. I must say I like his style!
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May 10th
Dear Diary:
Got a voicemail from Willingham today suggesting we catch up at the club. He didn’t mention it but he must’ve seen our Q1 earnings—missed expectations by $0.10 pushing the stock down by 8%. Could it be that he smells blood in the water? But that just seems so not like him. I’m going to hold off on responding for a few days.
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May 13th
Dear Diary:
Got a call today from our outside counsel who deals with a lot of M & A firms. Said she’s hearing a lot of “chatter” in the system that we’re on the block! It’s got to be that snake Willingham! How could I have been so blind!
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June 12th
Dear Diary:
Met with Willingham’s team of sharks all day yesterday. They act as though we have no assets or market value whatsoever, like they’re doing us a favor by rescuing us from certain bankruptcy. I know it’s just negotiating tactics, but hard not to take it personally after I had such high hopes for a strategic relationship.
Willingham didn’t even have the nerve to show his face at today’s meeting! But one of his people let slip that he is pressing them hard to close deal by end of Q2—just two and a half weeks…
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September 4th
Just returned from morbid closing party at Willingham’s home—or should I say his compound—on the shore. I should feel happy about the deal—we got a .05% premium on our shares in a down market—but just couldn’t wait to get home to have an extended private moping session.
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September 8th
Dear Diary:
Spent all day in bed watching the 19 episodes of “The Office” I Tivo’d (but was too busy with the acquisition to watch). I laughed, I cried.
Then got a call from a really nice executive recruiter! Sounds as though she’s definitely plugged into the market and “gets” my style and philosophy. Meeting her at Starbucks on Wednesday. Can’t wait!
Copyright 2009, Bob London
