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The Seller’s Playbook

Rule 25 of 34 · Part 4, The Deal Terms

The right structure can create value for both sides.

Chapter 25: F Reorganizations

What is an F reorg, and whose benefit is it?

What sellers often miss

Many owners assume any proposed tax restructuring primarily benefits the buyer. Sometimes that is true. Other times, a well-designed structure creates benefits for both parties and increases the likelihood of reaching an agreement. The important question is not whether a structure is complex. It is whether the value it creates is being properly identified and allocated.

The takeaway

Do not dismiss a proposed transaction structure simply because it appears technical. Ask your advisors to explain the economic consequences, the risks, and the potential benefits to both sides. Some of the most valuable opportunities in a transaction are not found in the purchase price. They are found in the structure that supports it.

Terms this chapter uses

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