Tip #172: When Will The Sale Of The Business Close?

A 'fat-lady' welcomes lawyers to their closing, telling them her singing will end the meeting. The phrase “It ain’t over until the fat lady sings!” that originated in a Wagner opera and was used and made famous by a Dallas sports writer in 1976, can apply to business closings.  There are a great many pieces that have to be completed – origination and negotiation of documents, bank funding commitments and documents, transition schedules, lease assignments, lists of assets, employee agreements – just to name a few. Business sellers and buyers must be available and ready to understand what needs to be done. And each party should use an experienced mergers and acquisitions attorney to make sure the closing is timely and goes well.