In any M&A transaction, how communication is managed is as strategic as the financial aspects. Releasing information too early can destabilize the company, create uncertainty among employees and erode market trust.
For business owners, having a structured, confidential and gradual communication plan is essential to protect value throughout the sale process.

Confidentiality and control of information

The first rule is control. Every message must follow a predefined plan and a clear chain of responsibility.
Confidentiality is protected through specific tools:

• Non-disclosure agreements (NDAs) signed by all potential buyers, advisors and consultants.
• Virtual data rooms with tiered access and structured documentation.
• Centralized communication managed by a single contact to avoid conflicting messages.

Timing is critical. Communicating too soon can create instability; too late can lead to distrust. Managing when and how information is shared is part of the strategy itself.

Internal communication – management and key people

Engaging management and key employees is one of the most delicate aspects of any transaction.
They ensure operational continuity and credibility in the eyes of investors or buyers.
The goal is twofold: maintain motivation and ensure confidentiality.

Key actions:

• Share the strategic rationale behind the deal with management discreetly and progressively.
• Implement retention or continuity plans such as performance-based bonuses or post-closing incentives.
• Define a clear internal communication perimeter to prevent information leaks.
• Ensure consistent and transparent messaging to avoid misunderstandings.

A well-informed and properly motivated management team becomes a stabilizing force, not a source of risk.

Clients and suppliers – reassure without revealing too early

Customer and supplier relationships must remain stable and predictable during the sale process. Each stakeholder has a different exposure to change, and communication must reflect that.

Before closing: avoid premature disclosure. Reinforce messages of business stability and long-term vision without directly referencing the transaction.

After closing: external communication should focus on three key points:

1. Continuity of existing contracts and relationships.
2. Commitment to maintaining quality standards and service levels.
3. Growth opportunities arising from the transaction.

A structured and coherent announcement builds trust, protects reputation and ensures a smooth transition for all parties.

Change of control clauses – managing legal and operational stability

Many commercial contracts include change of control clauses that may trigger renegotiation or termination in case of ownership changes.
Proactive management of these clauses is crucial to prevent disruptions.

Recommended actions:

• Map all key contracts during due diligence to identify any change of control clauses.
• Assess the real risk of activation by business partners.
• Negotiate waivers or amendments in advance where necessary.

Managing these aspects early ensures that the sale does not cause operational or contractual instability.

The role of the advisor – coordinator of communication

An effective communication plan requires full alignment among financial, legal and communication advisors.
The M&A advisor acts as the director of the process, defining timing, tone and content.

Common errors stem from lack of coordination:

• Inconsistent messages to different stakeholders.
• Information leaks due to uncontrolled internal communications.
• Public announcements made before the transaction is finalized.

The goal is not only to inform, but to protect value – ensuring every message reinforces the transaction rather than weakening it.

Conclusion – communication as a tool to protect value

When managed properly, communication becomes a strategic asset. Each message must serve a precise purpose: maintaining stability, consistency and trust. In M&A, confidentiality does not mean silence, it means control.
A well-structured communication plan allows a company to navigate the sale process with order, transparency and credibility, preserving its most important asset: its value.