Gary Solway, Munaf Mohamed, John Mercury, Michael Mysak and Paul Romaniuk write "Ten Takeaways for Buyers and Sellers in Private M&A Transactions" in CVCA Central.
They write about the recent Alberta case of NEP Canada ULC v MEC OP LLC and its useful lessons for participants in private M&A transactions.
The following are ten key takeaways from the case for buyers and sellers:
- Court litigation takes time
- Unwelcome publicity
- Discovery reveals all
- Seller's limited access to records and personnel
- Executives of seller become executives of buyer
- Legal privilege not seller's
- Fraud trumps everything
- Scope of potential damages is broad
- Knowledge can be imputed
- Oral conversations, actions and other extrinsic evidence
Read the full article on the CVCA Central website.
Bennett Jones