Last week when Salesforce announced that it was buying ClickSoftware for $ 1.35 billion, you may not have realized it, but the law firm Shearman & Sterling was advising Salesforce throughout the deal. In fact, there are attorneys involved in every transaction of this type, from the initial call to closing.
Unsurprisingly, there are hundreds of little details involved in bringing a deal to fruition, from verifying the validity of the offer to verifying the financial health of the target company, negotiating a price and terms, and settling with the boards / shareholders. Even after both companies sign and agree to the deal, attorneys often have to facilitate it through the regulatory process before it is finally closed.
Attorneys act as project managers, working with company executives and boards of directors, guiding them through the lengthy transaction process, advising them on the legal side of the equation, all while working with investment banks to ensure that everything goes as smoothly as possible. .
Looking for a goal
A company like Salesforce doesn’t go out and buy ClickSoftware at random. In fact, there is a method to his M&A madness. As I wrote in an article describing the process in 2016: