Como fazer um teaser para m&a

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M&A Targeting: Tips for a Good Teaser
By Ivo Machado Silva
A well-written teaser is important in the M&A process. It keeps the Buyer’s interest and can facilitate continuing the steps to a finaldeal. Here are some tips for writing a good teaser:

Keep it short and sweet
Brevity is the soul of a well-written teaser, so keep it to one page. The reader needs to quickly understand what thecompany does. The teaser doesn’t need to delve into details; that’s what the offering document is for. The teaser just needs to impart the basics.

Get to the point! The teaser should only provideenough information to spark the Buyer’s interest. Don’t waste time reconstructing the development of your industry or trying to impress the reader with your encyclopedic knowledge of this or that. Get tothe salient points. Write it so that your mother can understand it.

Buyer isn’t a “black box” that automatically and immediately processes a huge amount of data. Buyer is a person or a group ofpeople who need time to process that data. Providing an overload of data will most likely result in Buyer not even bothering to wade through it; he has tasks he can do that require less effort!

Includehigh-level financial info only
In the spirit of brevity, the only financials a teaser needs are revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA). (If a companyhas an excess of add backs, the teaser should use adjusted EBITDA.) Some industries or situations may require slightly more financial information, such as gross profit of EBIT or other specificstatistics (number of customers, units sold, and so on).

A teaser should have three to five years of historical financial recap plus three to five years of projections. For ease of use, the teaser’s incomestatement should also show expenses as a percent of revenue.

Don’t go overboard. Err on the side of keeping it simple. If the statistic doesn’t add anything, don’t put it in the teaser.

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