KEY POINTS
> Confidentiality
> A clear strategy
> Partners’ buy-in of the external growth strategy
> Internal consequences
> Client consequences
> Image consequences

WHAT HAS TO BE DONE
> Define a clear presentation of the firm
> Define target’s profile (offers, location, teams, size, positioning…)
> Search for targets (buying or selling firm)
> Compare bids
> Get in touch with targets
> Conduct a commercial due diligence
> Define merger communication strategy
> Create and patent name (if necessary)
> Coordinate communication strategy and launch with legal counse

RISKS
> Human risks
> Rumors
> Lack of synergies
> Clients and potential conflicts of interest
> Monopolistic position (Competition law)

DELIVERABLES
> Supporting the daily M&A process
> Firm’s presentation
> Letter of confidentiality
> List of potential targets
> Analysis of synergies
> Commercial due diligence report
> Analysis of impacts, business opportunities and risks
> Merger communication strategy and launch tactics