M&A Foundations · glossary
The first number or position put on the table, which tends to pull the eventual outcome towards itself. Skilled negotiators anchor early and deliberately — which is one reason the "non-binding" heads of terms matter more than they bind. Chapter 6 · Chapter 14
Explained in Chapter 6, Term Sheets and Heads of Terms, of M&A Foundations.
The main page for this term is Anchor, in Negotiation Skills.
Every chapter of M&A Foundations is free to read, including the full training share purchase agreement.
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open M&A Foundations → · All terms A–Z →