The shift to remote work didn’t force a complete overhaul in the M&A process, as most transactions were semi-virtually completed before March 2020. It did require a greater emphasis on timing, communication, expectations, and organization in closing deals that will be remembered by buyers and sellers for the future.
The pandemic’s fully virtual environment required deals to account for the logistical challenges presented by the work-from-home policies and staffing situations of all parties touching the transaction. These factors increased the stress caused by short closing deadlines. This will continue as some organizations adopt flexible work models. Between buyers, sellers, and their counsel, this means understanding each other’s expectations for the content and timing of due diligence and other pre-closing deliverables is more crucial than ever.
