How to successfully run a large-scale cross-border M&A project?

Partners Carola Lindholm and Samuli Tarkiainen hosted a series of panel discussions summarising some of the key success factors to be kept in mind especially in competitive sale processes.

Key success factors in large-scale M&A projects

1. Know what you are selling, and where the target’s assets, technology, employees, and contracts – and thereby the value – are.
2. A high quality vendor due diligence will give you time to correct or mitigate findings, to further increase the value of the target, and to avoid surprises after go-live.
3. Ensure that the management is on board and incentivised. Also check that their contracts are up to date and give you the necessary protection of confidentiality, IPRs and non-competition
4. Plan for deal security from the very start – be mindful of the scrutiny some buyers may face to get the necessary authority approvals

Project management masterclass

1. Plan, plan, plan – in detail and with a clear scope: objectives, milestones, and deliverables.
2. Set and manage realistic time schedules – some flexibility is always needed.
3. Align the budget and resources with your scope and timeline.
4. Communication is key – it allows you to monitor and react.

A changing FDI landscape

1. Be mindful of increasing filing obligations and scrutiny, especially in this demanding geopolitical climate and e.g. within the defence and security sectors.
2. Monitor timing implications and ensure that you are ready to file as soon as possible, in some countries already based on a LoI or a draft SPA.
3. Remember that intra-group arrangements (e.g. in connection with internal carve-outs) may need to be filed.
4. Keep an eye on the EU Commission’s recommendation to monitor also outbound investments in certain technology sectors.