Dual-track transactions: maximising the options
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Traditionally, a dual-track transaction means a process in which the owners and management of a business run in parallel both an initial public offering (IPO) and a private merger and acquisition (M&A) sale process, usually by way of auction.
The main driver for running the two exit strategies in parallel is to achieve the best outcome, most commonly to maximise the value of the exit or fundraising, as the IPO can represent an additional bidder in an auction sale, generating additional competition for the asset.
Read our article that explains the advantages of, and issues involved in, dual-track transactions, where preparations for an initial public offering and a private M&A sale take place concurrently
*This article first appeared in the August 2022 issue of PLC Magazine.