Mach, “secure a deal” means agreeing in principle to the broad terms of a deal contained in a relatively short document called “Heads of Agreement” signed by both parties.
The actual mechanics of the deal are then carried out by masses of lawyers and accountants on both sides working together to dot I’s and cross Ts. This is often referred to as the “due diligence” phase and the final purchase price gets adjusted for what gets discovered in the process. For example, no buyer would have done a stocktake or verified tax and super liabilities themselves. They would have accepted the Administrators figures. There would be a mass of details to be analysed, argued and agreed between the Administrators and the winner.