{"id":2473,"date":"2026-04-12T23:19:19","date_gmt":"2026-04-12T21:19:19","guid":{"rendered":"https:\/\/thelineavocats.fr\/?page_id=2473"},"modified":"2026-04-14T19:57:14","modified_gmt":"2026-04-14T17:57:14","slug":"negociation-termes-de-la-transaction","status":"publish","type":"page","link":"https:\/\/thelineavocats.fr\/en\/fusion-acquisition-ma\/negociation-termes-de-la-transaction\/","title":{"rendered":"NEGOTIATION OF THE TRANSACTION TERMS"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"2473\" class=\"elementor elementor-2473\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3c9d1fa sectionHeader e-flex e-con-boxed e-con e-parent\" data-id=\"3c9d1fa\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5fb8b9d5 e-con-full e-flex e-con e-child\" data-id=\"5fb8b9d5\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-1ae99d8e e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"1ae99d8e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-e43bbc e-con-full elementor-hidden-mobile e-flex e-con e-child\" data-id=\"e43bbc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f5c2885 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"7f5c2885\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Negotiation of Transaction Terms (LOI, SPA and Shareholders' Agreements)<\/h1>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e99fe43 e-con-full e-flex e-con e-child\" data-id=\"e99fe43\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d39e317 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"7d39e317\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The negotiation of the terms of a merger and acquisition (M&amp;A) transaction is a strategic and decisive step for the success of the operation. It aims to precisely define the rights, obligations, and commitments of the parties, to secure risks, and to prepare for the effective implementation of the acquisition or merger or any similar operation (spin-off, partial asset contribution).<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efe7d6e font-fr elementor-align-center elementor-widget elementor-widget-button\" data-id=\"efe7d6e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/calendly.com\/d\/crvr-jmj-2wq\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6588765a e-con-full sectionProbSoluce e-flex e-con e-parent\" data-id=\"6588765a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-410f975 e-con-full e-flex e-con e-child\" data-id=\"410f975\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-b6b42fa e-flex e-con-boxed e-con e-child\" data-id=\"b6b42fa\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-583611ad e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"583611ad\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5ccd3bd7 font-franklin  elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"5ccd3bd7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">In this context, three key documents structure the transaction:<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6ff16e9f e-con-full e-flex e-con e-child\" data-id=\"6ff16e9f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c9b0856 elementor-widget elementor-widget-text-editor\" data-id=\"c9b0856\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Letter of Intent (<\/span><i><span style=\"font-weight: 400;\">Letter of Intent<\/span><\/i><span style=\"font-weight: 400;\">, LOI),<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The agreement for the acquisition of 100% of the share capital of the target company (<\/span><i><span style=\"font-weight: 400;\">Share Purchase Agreement<\/span><\/i><span style=\"font-weight: 400;\">, SPA), et<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Shareholders' Agreement (<\/span><i><span style=\"font-weight: 400;\">Shareholders\u2019 Agreements<\/span><\/i><span style=\"font-weight: 400;\">).<\/span><\/li><\/ul><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Careful negotiation of these contractual instruments allows for the identification and proactive management of potential sources of conflict, the framing of price adjustment mechanisms, and the assurance of lasting relationships between parties post-transaction.<\/span><\/p><p><br \/><b><\/b><\/p><h3><b>1- The Letter of Intent (LOI)<\/b><\/h3><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">The LOI is a document preceding the signing of the transaction. It formalizes the essential points of the agreements between the parties, while defining the framework for negotiations. Its objectives include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Determining the scope of the transaction and, where applicable, the financial conditions surrounding the operation concerned;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Identifying the conditions precedent essential to the operation, defining the scope and extent of due diligence, as well as the financing arrangements for the operation;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Establishing an indicative timeline for the completion of the transaction;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Defining the main terms and obligations to be included in the final contractual documentation;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Specifying the confidentiality and exclusivity commitments applicable during the negotiation phase.<\/span><\/li><\/ul><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">The LOI is generally not binding on all terms, but certain clauses may have immediate legal effect, such as confidentiality, exclusivity, or the payment of a termination fee.<\/span><\/p><p><br \/><b><\/b><\/p><h3><b>2- The agreement for the acquisition of 100% of the target company's shares (SPA)<\/b><\/h3><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">In an acquisition transaction, the SPA is the central document, legally and economically structuring the purchase of shares or assets and defining the rights and obligations of the parties until <\/span><i><span style=\"font-weight: 400;\">closing<\/span><\/i><span style=\"font-weight: 400;\">. Several key points are to be negotiated :\u00a0<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Price adjustment mechanisms based on performance, company cash flow, liabilities, or earn-out mechanisms<\/span><i><span style=\"font-weight: 400;\">earn-out\u00a0<\/span><\/i><span style=\"font-weight: 400;\">;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asset and liability guarantees, first demand guarantees ;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Non-compete and exclusivity clauses ;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conditions precedent and post-closing obligations<\/span><i><span style=\"font-weight: 400;\">closing<\/span><\/i><span style=\"font-weight: 400;\">\u00a0;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Indemnification and limitations of liability, caps, statutes of limitation, and exclusions.<\/span><\/li><\/ul><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">The negotiation of the SPA requires in-depth technical expertise, as the precise drafting of each clause directly impacts the legal and contractual security, as well as the taxation of the transaction.<\/span><\/p><p><br \/><b><\/b><\/p><h3><b>3- The Shareholders' Agreement<\/b><\/h3><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">The shareholders' agreement governs the governance and relations between shareholders after the transaction is completed, particularly in cases of shared or minority control. Key issues include:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Governance and voting rights, appointment of corporate bodies, quorum and majority rules for certain decisions;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Liquidity and exit clauses, pre-emption rights, approval rights, <\/span><i><span style=\"font-weight: 400;\">tag-along, drag-along<\/span><\/i><span style=\"font-weight: 400;\">, etc.\u00a0;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shareholders' rights and obligations during the company's life;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conflict management, dispute resolution mechanisms, etc.<\/span><\/li><\/ul><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Shareholders' agreements must be consistent with the SPA and anticipate future group developments, thereby ensuring stability and predictability in relations between partners.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-490f3e1 elementor-widget elementor-widget-spacer\" data-id=\"490f3e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-28024a6 e-flex e-con-boxed e-con e-parent\" data-id=\"28024a6\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6be5975 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6be5975\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a786db9 e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"a786db9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c369e30 font-franklin  elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"c369e30\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><span>Tailored legal support <\/span><br><span>to secure merger and acquisition operations<\/span> \n<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aa401cd e-con-full e-flex e-con e-child\" data-id=\"aa401cd\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e7569a5 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"e7569a5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f76d66 elementor-widget elementor-widget-image\" data-id=\"8f76d66\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"556\" height=\"2\" src=\"https:\/\/thelineavocats.fr\/wp-content\/uploads\/2025\/02\/cavinet-line.png\" class=\"attachment-large size-large wp-image-134\" alt=\"LIne\" srcset=\"https:\/\/thelineavocats.fr\/wp-content\/uploads\/2025\/02\/cavinet-line.png 556w, https:\/\/thelineavocats.fr\/wp-content\/uploads\/2025\/02\/cavinet-line-300x1.png 300w, https:\/\/thelineavocats.fr\/wp-content\/uploads\/2025\/02\/cavinet-line-150x2.png 150w, https:\/\/thelineavocats.fr\/wp-content\/uploads\/2025\/02\/cavinet-line-18x1.png 18w\" sizes=\"(max-width: 556px) 100vw, 556px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ec59da5 font-avenir elementor-widget elementor-widget-text-editor\" data-id=\"5ec59da5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">A law firm specializing in corporate law assists parties at all stages of negotiation:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strategic analysis<\/b><span style=\"font-weight: 400;\"> of the transaction and risk identification;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Drafting and negotiation<\/b><span style=\"font-weight: 400;\"> up to the finalization of the LOI to secure the pre-contractual phase;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Detailed structuring and negotiation<\/b><span style=\"font-weight: 400;\"> of the SPA to protect the parties in the context of the operation concerned;<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Preparation and negotiation<\/b><span style=\"font-weight: 400;\"> of the shareholders' agreement to ensure post-transaction governance and consistency.<\/span><\/li><\/ul><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Our firm assists its clients in legally securing the transaction, optimizing taxation, and preventing potential disputes, while aligning the long-term interests of the parties.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fb502df elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"fb502df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7c55e60d e-con-full sectionNosServices e-flex e-con e-parent\" data-id=\"7c55e60d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-d75784b e-con-full e-flex e-con e-child\" data-id=\"d75784b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-3a206169 e-con-full e-flex e-con e-child\" data-id=\"3a206169\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-4e9b104 e-con-full e-flex e-con e-child\" data-id=\"4e9b104\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-50637fdf e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"50637fdf\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-360203f e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"360203f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInLeft&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2e968c18 font-franklin  elementor-widget__width-auto elementor-widget elementor-widget-heading\" data-id=\"2e968c18\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR OTHER SERVICES<br>IN MERGERS &amp; ACQUISITIONS<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-541d8eee e-con-full e-flex e-con e-child\" data-id=\"541d8eee\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3a3733a4 e-con-full e-flex e-con e-child\" data-id=\"3a3733a4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-6c2818a3 e-con-full e-flex e-con e-child\" data-id=\"6c2818a3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2f6fa6b8 e-con-full e-flex e-con e-child\" data-id=\"2f6fa6b8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7474664e e-transform elementor-widget elementor-widget-heading\" data-id=\"7474664e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_transform_scale_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1.1,&quot;sizes&quot;:[]},&quot;_transform_scale_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_scale_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/thelineavocats.fr\/en\/cabinet-davocats-en-contentieux-fiscal\/accompagnement-regularisation-fiscale\/\">SUPPORT FOR THE SELLER OR BUYER<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-48bde2c1 e-con-full e-flex e-con e-child\" data-id=\"48bde2c1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-45c2d99e e-con-full e-flex e-con e-child\" data-id=\"45c2d99e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1fc79667 e-con-full e-flex e-con e-child\" data-id=\"1fc79667\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-25b491c4 e-transform elementor-widget elementor-widget-heading\" data-id=\"25b491c4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_transform_scale_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:1.1,&quot;sizes&quot;:[]},&quot;_transform_scale_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_scale_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/thelineavocats.fr\/en\/fusion-acquisition-ma\/audit-juridique-due-diligence\/\">LEGAL AUDITS (DUE DILIGENCE)<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1bdff4d1 e-con-full e-flex e-con e-child\" data-id=\"1bdff4d1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-482df76 e-con-full e-flex e-con e-child\" data-id=\"482df76\" 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data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>N\u00e9gociation des termes de la transaction (LOI, SPA et pactes d\u2019actionnaires) La n\u00e9gociation des termes d\u2019une transaction de fusion-acquisition (M&amp;A) constitue une \u00e9tape strat\u00e9gique et d\u00e9terminante pour la r\u00e9ussite de l\u2019op\u00e9ration. Elle vise \u00e0 d\u00e9finir de mani\u00e8re pr\u00e9cise les droits, obligations et engagements des parties, \u00e0 s\u00e9curiser les risques et \u00e0 pr\u00e9parer la mise en [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":420,"parent":1025,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2473","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/pages\/2473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/comments?post=2473"}],"version-history":[{"count":7,"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/pages\/2473\/revisions"}],"predecessor-version":[{"id":2495,"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/pages\/2473\/revisions\/2495"}],"up":[{"embeddable":true,"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/pages\/1025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/media\/420"}],"wp:attachment":[{"href":"https:\/\/thelineavocats.fr\/en\/wp-json\/wp\/v2\/media?parent=2473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}