Irwin Wasser, chairman of Atwater Adhesives, Inc., and Edward Attel, president of the company, were preparing for a mid-June 1988 meeting with William Wallace. Wasser, age 72, and Attel, 66, had decided to sell their company which had its offices and main plant in Trenton, New Jersey in order for Wasser to put his estate in order. Wasser wished to retire, but Attel wanted to continue working as an employee of the purchaser for at least five years. Wallace was an independent consultant and managerial troubleshooter who was looking for a small company to purchase for himself. Since Wallace did not have substantial independent resources, that bank financing would be required to help provide the purchase money. He therefore had told Wasser that he planned to bring to the meeting Arthur Youngman, vice president of a major regional bank in Harrisburg, Pennsylvania.