In an off-market process the seller controls the timetable — and the timetable is often worth more than the asking price.
In an open process, the calendar belongs to the process. Deadlines are set, bids are collected, and the seller works to a rhythm designed for competitive tension.
Off-market, the seller sets the pace. That matters more than it sounds. It means being able to wait for the right acquirer rather than the available one, to pause while a strong trading year completes, or to move quickly when a buyer with genuine strategic reason appears.
It also means that the business keeps running properly. The single most common cause of value erosion during a sale is the owner's attention being consumed by it.