If there is one thing that is a crucial part of all M&A, it is that deals are completed.
At the very heart of deal-doing are completion mechanisms, which include the detail of how the final purchase consideration is derived. Therefore a thorough understanding of completion mechanisms is both a core skill and a source of personal comparative advantage for all professionals involved in corporate finance, whether as advisers or as principals.
Last month, with Grant Thornton and the assistance of the faculty’s Technical Committee, the Corporate Finance Faculty published its latest best-practice guideline, Completion mechanisms: Determining the final equity value in transaction.
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