You’ve got to give it to the top investment bankers and lawyers – they’ve perfected the art of driving a truck through a two-inch gap.
Now when they drop the hammer on a target’s board and investors with a “best and final” statement, they’re leaving themselves wriggle room to craftily change the deal price and/or terms.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
