Baker & McKenzie partners Alan Zoccolillo and Michele Maney led a discussion this morning at Doing Business Globally in New York on winning strategies in cross-border deals, taking attendees through eight key transaction elements, from kick-off to closing. The session drew a standing-room only crowd.
Some tips from the discussion:
- Set up a formal kickoff meeting, which can be useful in setting up parameters of the deal.
- Proactively manage the deal through all of its elements. This gives everyone involved more comfort to have someone in the role of project manager, keeping track of every aspect of the deal – milestones, timeframe and goals.
- Bring the entire deal team into the process early. Think about, what do I need for this deal, who in my organization is going to be involved?
- Analyze all potential deal structures, and jointly select the best overall approach. Cross-border deals present an opportunity to mix and match deal structures in certain cases.
- Make anticorruption diligence a fundamental component of diligence investigation.
- Prior to closing, identify and address the most likely post-closing disputes.
- Don’t wait until closing to start integration planning.