COVID-19 has led to stay-at-home orders and travel bans. Employers are doing their best to keep their workers safe, often adjusting to a work-from-home platform on very short notice. In this new employment landscape, those who are looking to move forward with merger and acquisition deals are rightfully concerned about the obstacles inherent with these new practices.
One particular area of difficulty involves due diligence. The ability to gather information about another business before a merger or acquisition is extremely important. Without this information, it can be difficult to navigate the negotiation process. Fortunately, there are some options available to help ensure due diligence moves forward and interested parties can complete a merger and acquisition deal as planned.
Two considerations: Virtual meetings and the use of local agents
One option involves the utilization of virtual meetings. Interested parties can interview former leaders and current workers of a target organization through the use of online platforms. This allows the conversation to move forward while respecting social distancing.
If an in-person visit is possible, it may be wise to utilize a local agent. If you do not have a local agent, you could employ an impartial third party, local to the target property, to conduct the visit. Digital options are also available for reviewing and signing documents to complete the transaction. This can eliminate the need to meet in person to finalize the deal.
Whether considering a domestic or international deal, it is wise to seek legal counsel to help guide the negotiations. An attorney experienced in this niche area of business law can advocate for your interests throughout the process.