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THE ROADS NOT TAKEN

The merger you looked at and walked away from is documented somewhere

Firms evaluate far more than they do. Mergers explored, offices considered, practice areas costed and shelved. Each was a serious analysis ending in a no, and the reasoning for a no is usually written down more carefully than a yes.

Check your data Six questions, roughly two minutes.
Serious analysis, ending in a decisionDeclines are argued more carefullyBounded licence, scope agreed first

WHAT FIRMS EVALUATE

Four decisions every established firm has analysed

These sit in partner correspondence and shared drives, and nobody revisits them once the decision is made.

Mergers and combinations

Approaches received or made, with the analysis of fit, culture and economics behind the eventual answer.

New offices

Geographic expansion costed and argued, usually with a clear view of what would have to be true to justify it.

Practice areas

Service lines considered, with an assessment of capability, demand and what it would take to enter.

Senior hires

Lateral approaches evaluated, including the ones declined on economics or fit rather than capability.

THE CONFIDENTIALITY QUESTION

Counterparties are handled before anything moves

  1. 01

    Establish what exists

    Six questions about the systems in use. Nothing is accessed at this stage.

  2. 02

    You set the boundary

    Material covered by an NDA with a counterparty stays outside the licence, agreed before signature.

  3. 03

    Anonymization in preparation

    Identifying fields are stripped as part of preparing the data, ahead of any onward sharing.

  4. 04

    Paid on completion

    Typically $100K to $2M, Net 30 to 60, once the data is approved, shared, and anonymized.

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THE TRACK RECORD

People who have evaluated and declined deals

“Bought Mayer Solar and scaled it to $50M through two further acquisitions. He has looked at far more than he bought.”
Zak KuzbariPartner
“Eight acquisitions closed across the group, $100M+ in revenue across businesses built with partners.”
PolysharesAcross the group

THE STRATEGIC-RECORD QUESTIONS

What partners ask about this material

Merger talks were under NDA.

Then that material stays out of scope. Your own internal analysis and reasoning is frequently separable from anything a counterparty shared.

This shows disagreements between partners.

Identifying fields are stripped in preparation, and anything you will not license is excluded before anything moves.

Some of those decisions look wrong in hindsight.

Which makes them more instructive, not less. A decision that can be checked against the outcome is what carries value.

Is this enough for a deal alone?

Usually part of a wider scope. It contributes breadth, one of the four factors weighed in a review.

SPEAK WITH A MANAGING PARTNER

The analyses that ended in no are worth something

Six questions and a short conversation. Nothing you tell us leaves Polyshares.

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