M&A Foundations · glossary
In a completion accounts deal, the agreed "normal" level of working capital the business needs. If actual working capital at completion is above the peg the price goes up; below it, down — so the seller cannot flatter the price by starving the business of stock or squeezing creditors before handover. Chapter 9
Explained in Chapter 9, Price Mechanisms and Adjustments, of M&A Foundations.
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