Yes, I would agree due diligence should be just as stringent when completed by the target, as it is when completed by the buyer. However, the target likely does not know the details of the buyers strategy who they are completing the due diligence for. The strategy would influence the materiality and focus areas for the due diligence, and likely means the seller still needs to complete their ‘strategy specific’ due diligence. The target may have an idea about the types of strategies potential acquires would deploy, and could build out due diligence around these, however it maybe at a higher cost than necessary.
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