I was recently involved in an a merger of a housing society in Pakistan where a society has buy out another society. When we looked at the contracts it was badly drafted that we had to halt the merger until that was ammended. Due to the geographical nature, the target company wanted us to agree on the agreement terms and conditions but we managed to change all the covenants. At the end I submitted a small due diligence report to the acquirers and there reply was to fix it asap as they wanted to purchase the society.
Where I am employed each M&A discipline (IT, Legal, Finance, HR & Internal Ops) have to write a Legal Memo that is kept in a repository for future Audits. Basically it contain the date the Due Diligence was performed and a high level overview of what areas were covered and findings. I have been performing IT DD workstream for M&A since 2018.
This reply was modified 3 weeks, 6 days ago by Martin Tse.