Difference between a deal and a live deal?
I work for a PE fund.. and the MD has told me that If i like the company, the deal can potentially go live? What does this entail and what is the difference between a deal and a live deal?
How how how can you work for a PE fund and not know this ?
A live deal generally means the company is "on the block" (being shopped around by an investment bank) or the target company management is receptive to exploring "strategic" alternatives with you. I think you'd have to elaborate to get a better response.
Live deal = shit is getting real
Broadly means you will start doing due diligence work and spending money (on legal, third party consultants, etc.). It's the stage after the "throwing in a non binding indication phase" that you don't do any real work up to that point.
Thanks for clarifying. I was not clear about what exactly i meant by "live" but I was referring to the legal perspective of things. Thanks for clearing that up fellas.
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