Tax efficiency should always be a first tier principle.
That is why I would argue that management selling a company should do stock exchanges and not cash sales. The buying company can always buy back stock if they want the effect of a cash deal.
The GENT buyout for cash is recent example of management not protecting the interests of their US shareholders. (Don't know if this issue exists in the countries)
If I had my way it would be a breach of fiduciary duty to do a cash deal.
Market Data 
Markets 
AI
