Further, an asset sale has less chance of falling through as a result of an unexpected glitch during due diligence and such "glitches" are not uncommon in share sales! The reason for this is that the market value reflects supply and demand in the investing market, how eager or not investors are to participate in the company's future.
You look at a company and figure out if you think it will do better in the future than it has in the past.
These will be items such as loans the company has taken out, bills yet to be paid and the overdraft.
This is why companies almost always have founder vesting in place.
.
Take eBay and Amazon accounts, for example.