Good morning and welcome to The Closer, the newsletter all about deals. Today's edition is short and sharp — one tactic, backed by research, to help you negotiate smarter. No headlines, no noise — just a Nugget you can deploy by lunchtime.
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THE INFORMATION
EDGE
Closer Tactic #107 • Intelligence Gathering
Negotiation is won before you sit down.
Know more than they think you know.
The Nugget
Superior information about the other party's constraints, motivations, and alternatives creates asymmetric advantage.
When Amazon was negotiating to acquire Whole Foods in 2017, Jeff Bezos knew something Whole Foods' board didn't realize he knew: activist investor Jana Partners had been building a stake and pressuring for a sale. Amazon had done deep research on Whole Foods' shareholder base, board dynamics, and internal debates about strategic direction. When Amazon offered $42 per share ($13.7B total), the board accepted within days—because Bezos had structured the offer to address every stakeholder's specific concern. The information asymmetry meant Amazon paid less than they were willing to, and Whole Foods got more than they expected.
How to Deploy
• Research financial pressure points (debt maturities, earnings guidance, activist threats)
• Map decision-maker incentives (comp structure, career goals, board dynamics)
• Identify hidden constraints they haven't disclosed (regulatory, operational, political)
⚠️ Avoid: Revealing how much you know too early—use information strategically, not showily.
Takeaway
Intelligence wins deals. Ignorance loses them.
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