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published on 20 October 2023 | reading time approx. 4 minutes
In this ongoing series, a number of different M&A experts from the global offices of Rödl & Partner present an important term from the specialist language of the mergers and acquisitions world, combined with some comments on how it is used. We are not attempting to provide expert legal precision, review linguistic nuances or present an exhaustive definition, but rather to give or refresh a basic understanding of a term and provide some useful tips from our consultancy practice.
Given the complex nature of disclosures, and the often fluid nature of what constitutes “fair” disclosures, it is imperative to consult experts when drafting purchase agreements (that set the standard of disclosure) and disclosure letters (to ensure well drafted disclosures). In the context of cross-border acquisitions, it is particularly necessary to evaluate the meaning of fair disclosures as it is defined in the applicable jurisdiction, and the disclosure procedure must be comprehensively followed.
Jan Eberhardt
Partner
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Transaction advisory | Mergers & Acquisitions