Up to 68% of privately held businesses take a hit of 15% or more to earnings following a change of control, according to a recent survey by the Institute of Profit Advisors (IPA). Furthermore, most private businesses sell at a discount to what they might garner if, prior to selling, they detailed “profit plans” for integration, commented CPA Barry Schimel, president of The Profit Advisors and a found-er of IPA.
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