Due diligence
From our UK edition
No doubt you, too, have had the feeling, upon glancing at an article in a paper picked up in a train or café, that it might mean something to someone, but it means nothing to you. I read this sentence in the Times the other day: ‘Not everyone builds an M&A machine on the back of stuff people throw away, such as till receipts and paper cups.’ A machine? On the back of stuff? And what are M&As — like M&Ms? But I persevered, and later in the piece a phrase appeared without which no indigestible article is complete: ‘Mr Roney’s due diligence on family firms is so painstaking that he typically waits for one of four issues: succession, financial crisis, health or divorce.