The Art of Negotiation

A Global Review of the M&A Deal Process

When mergers and acquisitions hit the financial headlines, the news is usually all about the size of the deal. Occasionally we’ll also hear about synergies or job losses as a consequence of the changes.

What we don’t hear about is the time and effort put in by diligent lawyers, crafting heads of terms, negotiating representations and warranties, monitoring the due diligence process and generally making the deal happen.

Contracts form a crucial role in ensuring value is realised for both buyers and sellers. Efficient and effective negotiation is a key skill for an M&A lawyer, so having the right team in place is essential, particularly in cross-border scenarios with multiple jurisdictions involved.

With this in mind IR Global brought eight members of its M&A Group together to discuss the M&A deal process. The aim of this feature is to give members and their clients an insight into best practice negotiation techniques used across a range of jurisdictions. We also assess regulations that can affect acquisitions, and analyse the differences between common and civil law, particularly in relation to the notary process.

The following discussion involves IR Global members from the United States – New York and Chicago, Canada – Quebec, Germany, Switzerland, The Netherlands, Bermuda and Spain.