An acquisition is really a high-level alliance. Note the end of the sentence, at what they do . If you have a lack of focus in your business at a customer level, you have not yet decided what to do, or more importantly what not to do. You may therefore not be the best. Doing something better is often referred to as a competitive advantage.
Time is money to the buyer and value to the seller.
It is the manifestation of great focus. Just as contracts make cash flow more predictable, dominant market share makes growth more predictable. So instead of a penalty for fall-off, the right buyer should be paying more because of an assurance of growth from their investment. Something the lawyers at the FTC do not seem to know is that consolidation spawns fragmentation. Good people leave and often take good customers when the deal goes down.