Reijmer/Russell on M&A Directions: Can We Talk? Not Necessarily

Buyers in acquisition mode don't have to be this tight-lipped. Letting staff know in general terms that the company intends to grow in this way can be good for morale. It also encourages employees to come forward with suggestions for acquisition opportunities.

Note, however, that we said "in general terms." As a buyer, you would not want all hands to know that you had a specific company in mind—rumors leaking prematurely to the acquisition target could blindside its owner and kill the potential deal then and there. Naturally, if a non-disclosure agreement is in place between the two parties, the buyer will be under the same constraints as the seller when it comes to sharing details. Think before speaking!