Infected deals: M&A in times of Covid-19

 

In this webinar speakers from selected jurisdictions will discuss the actual and expected effects of the virus on M&A transactions.

As a consequence of lock-downs and disruption of trade, most pending deals will not come to a close soon. Sellers have doubts about purchasers’ liquidity, availability of funding, or even solvency, or expect being asked to give far-fetching representations and warranties to purchasers. These, in turn, will want to shift to sellers as much as possible the risk of the target’s uncertain future business outlook. Can parties still opt-out?

Will MAC-clauses or interim period operative covenants provide for relief in deals between signing and closing?

The pandemic is infecting both done deals and future deals. In transactions which have already been closed price determination and adjustment clauses, like earn-out mechanisms, will become increasingly important, and can be expected to be challenged more than ever.

For successful future transactions the effects of the pandemic on the target’s business have to be assessed thoroughly and addressed effectively. Can we wave goodbye to locked box and welcome closing accounts mechanisms again? Which specific stipulations can be expected in future transaction documentation? Join this webinar and find out!

Answered questions from the audience
 

Marco A Rizzi
Bratschi, Zurich; Chair, IBA Closely Held and Growing Business Enterprises Commit-tee

 

Paul Josephus Jitta
Buren, The Hague

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Charles Martin
Macfarlanes, London

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Dinesh Melwani
Mintz, Boston; North American Regional Forum Liaison Officer, IBA Closely Held and Growing Business Enterprises Committee

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Ralf Morshäuser
Gleiss Lutz, Munich; Membership Officer, IBA Corporate and M&A Law Committee

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Seiichi Okazaki
Mori Hamada & Matsumoto, Tokyo; Communications and Publications Officer, IBA Closely Held and Growing Business Enterprises Committee

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Luciana Tornovsky
Demarest Advogados, São Paulo; Secretary, IBA Closely Held and Growing Business Enterprises Committee

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