Merger and acquisition transactions can be a viable alternative for accomplishing a number of strategic objectives in the context of building and realizing value for emerging growth and middle-market companies (those from startup to several hundred million dollars in revenue). Let’s take a high-level view of the buy-side and sell-side processes, and a framework for thinking about and planning each. Exits In many instances, the distinction between selling a company and raising capital is measured by the amount of equity sold and the contractual rights obtained by the buyer. Financing growth raises the issue of long-term shareholder objectives, which many