Pharmacy Daily | Due Diligence

Why do buyers undertake due diligence and why do they require a great deal of information? Sellers don't be put off by the buyers' accountants due diligence requests. All accountants are different and will require specific due diligence information that is best suited for their client. Some may request minimal information while others will request detailed documentation, more often being the later. Even though your accountant has verified figures for you, this is not relevant to the buyer completing their own due diligence on your business. The buyer's accountants are verifying the business's operations, financial performance, legal and tax compliance, customer contracts, intellectual property, etc. Accountants recognise that all requested due diligence information is highly sensitive and extremely confidential and is only gathered for their clients needs. Raven's suggest that you prepare yourself and provide the information requested as soon as possible. When an offer has been accepted the buyer will request information to complete their due diligence requirements. The period for due diligence is usually 21 days from receiving all requested information or in some cases the seller will ONLY provide information when the contract has been signed. The sooner the information is provided, the sooner the due diligence will be completed. For further information please email Info@ravens.com.au Or phone 1800 670 440. This week’s contributor is Sue Raven, General Manager, Raven’s Pharmacy Sales.

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