Liz Lockhart, Senior Director (PMO), and Training at Smarsh Carve-outs are incredibly complex. Buying a small part of a target company brings many challenges and can be even more complicated if the acquirer is carving out a public company.  In this episode of the M&A Science Podcast, Liz Lockhart, Senior Director (PMO) and Training at Smarsh, shares her first experience and lessons learned in carving out a competitor.  Liked today's episode? Unlock over 60 courses taught by top-tier M&A practitioners by joining the M&A Science Academy. Use code “academy20%” on the sign-up page for a 20% discount, available on either monthly or annual plans. https://www.mascience.com/academy Want to learn about upcoming interviews, events, and industry trends? Sign up for our weekly newsletter. https://www.mascience.com/newsletter-signup  If you’re a head of corporate development and looking to build up a world-class M&A team, reach out to me at kison@mascience.com. This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/