This seems to be written very much from the perspective of a VC backer and not the company itself. There are lots of reasons to sell a company, many are ignored by this blog article which does little more than make the M&A guys look like a bunch of used car salespeople. Having been on both sides of the arrangement, getting acquired (twice) both times by Fortune 50 tech companies, and then buying companies I really haven't seen the robber-baron tactics. Obviously every M&W guy worth his salary will try to get the best deal for his company and any CEO getting bought out should have the experience to know the way deals go down. If you're worth X to one Fortune 500, odds are you're worth that to another, meaning the acquiring company has leverage to walk away. This either helps set the price, or the price was artificially inflated in the first place.

There are a lot of very naive startup CEOs out there, that's the real problem, from the Fortune 500 side of the table it's like babysitting most of the time.