Full of complexity and challenging to implement, the corporate carve-out form of divestiture is gaining interest in the M&A world. Eric Jones is an expert in carve-out deals, and he shares insights on what hurdles to watch for and how to prepare for a carve-out transaction. Eric discusses what a carve-out is, what makes them tricky, how they unlock shareholder value, the legal and operational issues, the importance of the transaction services agreement, and the role of diligence in making this type of M&A deal successful.