(Editor's Note. When buying a company that is a government contractor, there are unique issues that if not accurately understood at the time of purchase, can significantly affect the value of what you thought you were buying. These potential time bombs are easy to elude buyers because government contracting matters may either be put on the backburner of the multitude of concerns needing attention or they may not generally be understood by otherwise highly competent advisors. We came across a recent article in the October 2001 issue of the Lyman Reprt written by Rand Allen of the law firm of Wiley Rein & Fielding LLP entitled "Due Diligence in Government Contractor Mergers and Acquisitions." The article addresses most of the government contracting-unique concerns that need to be faced during the due diligence process and we added some of our experiences as either employees or consultants for companies buying other firms with government contracts.)

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