M&G Lawyers6 Oct 2020 21:59
Got bored so decided to try to find out when lawyers get involved etc, just a few links with some info but very interesting when you get into it. The timeline aspect since that RNS could be anything, it could still take quite a few weeks maybe months yet but it all depends on what stage they are at? I'd assume the DD has mostly been done on the buyers sides by the mining experts involved and the buyers lawyers already, so as EUA are the sellers its points right to the fact that they will probably/hopefully be doing what I've pinpointed below, DD based on the financial side of whats been offered etc, more towards the end of the M&A cycle?
I'll just add that I cannot wait for it all to end as this board is getting tedious with some of the childish bs from both sides, the obvious derampers showing up trying to scare people into selling along with the other cr*p games they try and the rampers spouting numbers and stuff that they dont even know what it means! Some people need to grow the f*ck up, its ok to have some banter etc but some of you lot need to give yourselves a good f*cking shake! All imo btw, do not take my advice on what both sides do but be warned trust none of them, not even me! We are all here to do one thing, make money and some will do that in more unscrupulous ways than others!
Other than that little soap box rant, enjoy :)
https://malesculaw.com/what-do-mergers-acquisitions-lawyers-do/
"On the Seller’s side, the lawyer engages in collecting and preparing all the information and documents for due diligence. The M&A process continues with the lawyers getting on calls and meetings to discuss and negotiate issues discovered in due diligence."
https://www.chambersstudent.co.uk/practice-areas/corporatema
What lawyers do:-
Negotiate and draft agreements – this will be done in conjunction with the client, the business that is being bought or sold, other advisers (e.g. accountants) and any financiers.
Carry out due diligence – this is an investigation to verify the accuracy of information passed from the seller to the buyer. It establishes the financial strength of the company; the outright ownership of all assets; whether there are outstanding debts or other claims against the company; any environmental or other liabilities that could reduce the value of the business in the future.
Arrange financing – this could come from banks or other types of investors; they will wish to have some kind of security for their investment, e.g. participation in the shareholding, taking out a mortgage over property or other collateral.
Gather all parties for the completion of the transaction, ensuring all assets have been properly covered by written documents that are properly signed and witnessed. Company law requires that decisions are made at properly convened board meetings and recorded in written resolutions.
Finalise all post-completion registrations and procedures.
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