Here's a bonus track for today.
Over the last few years, and especially since I started this blog, I have talked to a number of people who used to work in corporate development. I always ask them why they left. I think I have finally reached a statistically-sound sample size, and can tell you that the overwhelming majority of people who leave corporate development do so because they completed no deals during their tenure with the company. It's not that they didn't complete enough deals, it's that they couldn't complete any deals. Further, all of these people tell me there was plenty of deal flow, and they often signed LOI's and negotiated merger docs. It's that their company's didn't have the cajones (thank you Guy) to close the deal.
Before you sign that LOI check your potential acquirer's track record, but more important look into the management team's record. Does the acquirer have a new CEO or CFO (or even CIO) that has never done an acquisition? What about their board - do the new members have acquisition backgrounds?
M&A is risky. It takes a certain kind of management team to do deals. Don't get pregnant and left at the alter.