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Negotiation (Ceremonials (Ground rules (Entering the negotiation (Non…
Negotiation
Ceremonials
Introduction
Small talk
Ground rules
One - at - a- time rule
No speaking over each other
Time constraints
5 pm latest
no offensive language or making personal attack
Entering the negotiation
Non-economic matters
Intent
Maintan the historic integrity
Opening the property
Timing
3 days
5 days
reputation
Favourable press
release for them in the end
we need to ask questions
Confidentiality
No disclosure
disclosure if
pure confidentiality.
lawyer - to lawyer
Economic matters
Price
start with 19
24 - 27 mil
deal breaker
27.3 mil
Counter offers (BATNA)
we have another property сhance. 5 days, 25.3 mil
Settling debts
They need money quick due to expenses
we can pay in cash
"do your shareholders really want to pay out of their pocket?"
Range of settlement
A. Target point
$24-27.3 mil
Confidentiality
Identity
Plans
less than 5 days
B. Resistance point
more than 24
More than 5 days to sign the agreement
Revealing info
C. Deal - breakers
plans revelead
Joint venture
Willing to disclose identity only if lawyer to lawyer
3 days to accept offfer