"Ever wonder what it really costs to buy or sell a business? In this episode of The Blackletter Podcast, host Tom Dunlap is joined by M&A experts Sharon Heaton and Wright Lewis for an in-depth discussion on the crucial details of mergers and acquisitions. They cover the costs involved in M&A transactions for both buyers and sellers, including legal fees, M&A advisory costs, and quality of earnings reports. The conversation also delves into the key terms found in asset and stock purchase agreements, such as representations, warranties, and how liability is transferred. As they explore what happens after closing, the trio discusses integration, post-closing obligations, and how communication with employees and vendors plays a critical role in a smooth transition. Whether you're buying or selling a business, this episode is packed with valuable insights to help you navigate the complex world of M&A.