Event | Dallas 5-6 October 2023 | The Ritz-Carlton

Illustrative Negotiation of Controversial M&A Deal Terms

Over the past two decades, M&A mavens Rick Climan of Hogan Lovells and Joel Greenberg of Arnold & Porter have perfected the use of the illustrative “mock negotiation” as an educational tool to train aspiring deal practitioners in the art of negotiating complex M&A transactions. They recently squared off at the 19th Annual UT Law CLE M&A Forum in Dallas to demonstrate the negotiation of several controversial provisions in the definitive agreement for the acquisition of a privately held company. The topics they debated include:

Key differences between acquisitions by strategic acquirers and acquisitions by financial sponsors
Gaps in the coverage of representation & warranty insurance
Key differences between acquisitions by large-cap strategic acquirers and acquisitions by smaller strategic acquirers
Limitations on the usefulness of deal-points studies in acquisition negotiations
Consequential damages exclusions in indemnification provisions
Use of arbitration to resolve post-closing indemnification disputes
Non-meritorious claims indemnities
“10b-5” representations

During their presentation, Rick and Joel stepped out of character frequently to explain and illuminate their negotiating stances.

Watch the edited recording here.

See the accompanying slide presentation.

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