Associate and Former Trainee, London
I have recently started a new seat in Mergers and Acquisitions. I have already become involved in several exciting deals so I get in to the office to have breakfast and check my emails. As I’m sharing with my supervisor we spend some time discussing how our current deals are progressing and what work will need to be done to keep them progressing. I then find out about our new top secret deals and spend the rest of the morning reading the relevant rules and regulations and getting my head around all of the code names! The afternoon is spent in a string of client calls regarding submissions we’re planning on making to the Takeover Panel.
Tuesday begins with conference calls about an IPO we’re working on. This required a major restructuring and the implementation of various different holding structures. Two of the holding companies will require new articles of association once the IPO has occurred. One of the associates on the deal asks me to start revising the articles in line with the new structures, I pop round to his office to discuss the task then spend most of the day working on this while listening in on calls regarding the underwriting agreement for the deal. I finish a revision of the articles and get out in good time to make a yoga class.
On Wednesday morning we receive word that the data room for one of our public M&A deals has opened. We have a call with the client to discuss process and strategy. Once complete, I begin identifying and reviewing documents so that we can start the due diligence process. I then start putting together a structure chart of the target’s group. I’m amazed at how vast and widespread the group structure is. It’s a late night but once I’ve found a paper size large enough to fit the chart it all becomes worth it.
Most of the morning is spent drafting a formal legal opinion. My supervisor takes the time to discuss the background on why we’re giving the opinion and advises me on how best to go about preparing it. As the opinion involves entities in several non-UK jurisdictions and English law governed documents I spend some time researching various international conventions to tailor our opinion accordingly but finish in time to get to pizza lunch! I spent the rest of the day pulling together company filings and announcements for new deals we’re working on.
On Friday morning we receive comments back on a non-disclosure agreement we’ve been negotiating. I review the comments in preparation for a discussion with my supervisor. I spend some time making comments and amending the agreement. Once complete we send this over to the other side and give them a call so that the agreement can be signed as soon as possible. I then get started on preparing a summary of actions required by our client under the UK Takeover Code in the event of an announcement. By the end of the day our non-disclosure agreement is signed in time for drinks at a nearby bar!