What are the steps that need to go through? And what are the steps that you're actually involved in before you can say that this has been a successful M&A?

Yeah, I think I can give you an overview of how the process works, if that would be helpful.

The basic idea is that you start off with a teaser from a company.

So this is something that might be compiled by the company themselves or by an investment banker.

And they'll give you this teaser that gives a brief rundown of project XYZ, and it will show you their basic financials or description of the business they're in.

And if the corporate development team at a specific company is interested in looking more into that business, what they do is they request more information.

So they sign an NDA and they receive what's called a SIM.

Looking at the company that gets acquired, What would you say the usual residual consequences are for them merging under a bigger conglomerate compared to like a massive giant like Blackstone, for example, or a smaller company that wants to acquire an even smaller company? For that company that is in the acquisition stage, how would you say things usually change for the team that works there?