Why M&A Deals Die (And How to Keep Yours Alive)

Most deals don’t implode — they unravel. Learn the avoidable mistakes that drain momentum, trigger re-trades, and turn “almost closed” into “back to market.”
Dec. 13, 2025
2 min read

We've been covering a lot on M&A lately — 'tis the season! — and today we're sharing advice from the vehicle repair industry. As Focus Investment Banking managing director Cole Strandberg writes in Modern Tire Dealer, M&As rarely die from a single shock event, but from a slow loss of clarity and momentum, often fueled by misaligned expectations, fatigue, and avoidable errors. Strandberg says that one of the biggest culprits is staffing the entire process with the wrong people. For example, a well-meaning attorney can over-lawyer every red line, magnify risk, frustrate the buyer, and stall progress until the deal simply runs out of oxygen.

Another common failure point is treating the LOI as a finish line rather than a starting point. As Strandberg argues, the LOI is where you should align on valuation, structure, earnouts, working capital, and employment terms. If those aren't nailed down early, the purchase agreement becomes a mess of renegotiations. Even after the LOI, deals can fall apart if communication falters, accountability fades, or sellers get indecisive and start revisiting conversations the other party moved on from. Buyers read hesitation as risk, and everyone is trying to avoid risk.

Strandberg also talks about three quiet killers that executives can't ignore. Learn what they are here.

 

About the Author

Abby White

Abby White

Vice President, Content Studio

Abby White is a content strategist, newsroom-trained writer, and brand storyteller. As Vice President of EndeavorB2B’s Content Studio, she leads client-driven custom content programs across 90+ brands and the content strategy for topic and role-based newsletters serving executive audiences. An award-winning journalist with a marketer’s mindset, Abby brings 25 years of experience leading editorial, communications, marketing, and audience-building efforts across industries.

Abby launched her first magazine, Abby’s Top 40, in 1988 and made everyone in her family read it. While attending the University of Illinois, she paid her rent as a professional notetaker, which might explain why she still gets asked to take notes in meetings. Since then, she has held editorial leadership roles at an alt weekly, a newspaper, a luxury lifestyle magazine, a business journal, a music magazine, and regional women’s magazines, developing a sharp writing edge and a conversational tone that resonates with professional audiences. 

She expanded into marketing while leading communications for an entertainment industry nonprofit and later drove rebranding and audience-building efforts for an NPR music station. At EndeavorB2B, she has been instrumental in driving editorial excellence, developing scalable content strategies across multiple verticals, and building the foundation for EDGE, the company’s portfolio of executive newsletters. 

And if you’re a writer interested in contributing to ExecutiveEDGE, she’s the person you need to (politely) bug.

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