The successful closing of a M&A advisory process depends on various factors: The performance of the company, the market situation, the preparation of the sales process and the professional execution of the M&A mandate. Different buyers might have different interests in the company to be sold. It is important to think holistically: Which buyers might be interested in the technology, in a portfolio extension, market access or a certain customer base, etc.? The aim of a structured M&A process is to receive not just one offer from one buyer, but ideally several offers from which the most attractive buyer can be selected. There are many stumbling blocks during the sales process that can jeopardize a transaction. Solid preparation and negotiation skills help to increase the likelihood of a transaction. Our experience shows that out of twenty potential buyers approached, typically around three to five buyers show initial interest and of these, one to two potential buyers enter into serious negotiations. However, this can vary greatly depending on the subject.