By Terry Putney
We are in a fluid environment as firms adapt and learn more about what to expect. I think earlier this year there was hope that we would emerge from this economic environment by the end of 2020. It looks now like this could definitely have an impact through 2021.
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It is a mixed bag so far for M&A. Some firms have pulled back and I suspect that is because, although this may not make sense logically, it may be hard to internally sell buying a firm and hiring more staff when the firm is laying off people and cutting back on partner draws. However, we are also seeing very motivated buyers and sellers because of the opportunities that appear to be available. One thing that can’t be avoided is the difficulty of negotiating and evaluating targets when you can’t meet face to face regularly.
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