A lesson from "Deal of the Century", about Michael Dell buying VMware
August 11, 2022
by a professional from Northern Arizona University in Tucson, AZ, USA
Stories from Forbes article, "Deal of the Century", about Michael Dell buying VMware.
Somewhere in the middle of negotiations...
And at one point, the sellers asked, "well, Michael, do you have the money? "It's like, sixty seven billion dollars"
Jamie Dimon from JP Morgan just says, "yeah, they have the money."
What's the lesson of that story? Have your financing lined up or at the table. As you are deal flow prospecting simultaneously be lining up the capital. Don't wait until after LOI is signed.
You don't want to take your LOI to the bank and hear them say, "Congratulations, you will have a deal that won't work."
from University of Southern California in North Palm Beach, FL, USA
from University of Pennsylvania in Ambler, PA 19002, USA