Anatomy of an M&A Transaction

Production Date: February 17, 2016 Practice Areas: Business, Corporate, & Securities Law and Mergers & Acquisitions Estimated Length: 5492 minutes


$ 89 Business, Corporate, & Securities Law and Mergers & Acquisitions In Stock

This class provides an overview of the main considerations involved in buying a business and the principal provisions included in the related legal documents. Acquisitions by way of stock purchase, asset purchase and merger are all considered, with differences among those transaction types highlighted. Differences in approach between public company and private equity transactions are also discussed.

Topics to be covered include legal due diligence; the use of confidentiality agreements, exclusivity agreements, and letters of intent; and preparation of disclosure schedules. The structure and principal provisions of an acquisition agreement are also reviewed, with attention to the following: consideration (including earnouts and purchase price adjustments); representations and warranties; covenants (including both interim operating covenants and post-closing covenants); closing conditions (including required consents); Material Adverse Effect provisions; termination; and indemnification (including escrows).


Learning Objectives:

I.     Gain an overview of the process for acquiring or selling a business, from beginning to end

II.    Identify the most important considerations in selecting the legal structure for a particular transaction

III.   Understand the role and scope of the principal legal documents employed in acquisition transactions

IV.   Analyze the nuances of key provisions of acquisition agreements



Brian V.
Dallas, TX

great content!

James M.
Denver, CO

I thought the presenter was excellent.

Kenneth M.
Dallas, TX

Excellent presentation! This may be my favorite.

Edward D.
Durham, NC

She did a great job!

Dorothy L.
Jacksonville, FL

Good subject discussion.

Stephen J.
San Francisco, CA

One of the best courses on Lawline

Elizabeth H.
Sarasota, FL

Enjoyed speakers passion on the subject matter.

Angie M.
Houston, TX

she made the topic not be as complicated as I expected it to be.

Arnold B.
Crosswicks, NJ

Good class

Andrea Kelli H.
White Plains, NY

Wow, this course was GREAT! I might try to reach out to the presenter, Margaret Butler, since we are in close proximity (NY/metro area). Great slides, comprehensive and substantive content, a definite WIN for CLE participants!

Rondal M.

Very good overview

Stacy T.
Woodinville, WA

Outstanding presenter.

Katherine D.
Minooka, AL

Great overview , very informative. Well presented.

Stephanie O.
Oakland, CA

Excellent presenter; contagious enthusiasm for her subject; presentation was both broad and deep in certain areas.

David M.
Manhattan, NY

Wow, what a really great and helpful course. Terrific delivery and excellent materials.

Laura d.
Piedmont, CA

She was great!

Elaine W.
Boulder, CO

Excellent CLE! The best, most informative and most practical CLE I have viewed and/or attended in over 30 years of practicing. Margaret Butler should think about becoming a law professor. She is knowledgeable, an excellent speaker and a born teacher. Thank you!

joseph h.
Bronx, NY

Excellent clear and full exposition.

David H.
New York, NY

excellent thorough presentation

Normandy Park, WA

Great, well-informed speaker.

george h.
Crawfordville, FL

It is my opinion that the presenter of this course was well-prepared. Thank you.

Tommy M.
Clinton, TN

Instructor was very engaging and made a complex topic understandable.

carol s.
Sacramento, CA

Fabulous engaged presentation that added tremendous value to me. Thank you

Mark M.
Houston, TX

Very good for a beginning practicioner.

Jonathan H.
Orlando, FL

Best M&A 101 class I've seen.

Michael B.
Seattle, WA

a lot of good information on M&A; thank you

Darren S.
Colorado Springs, CO

Great instructor. Very knowledgeable and engaging.

Kristine C.
Dubuque, IA

Excellent presentation

Lisa T.
Maiden, NC

excellent course, speaker was very clear and informative, thank you

Samuel W.
Houston, TX

Great course!

Libbi L.
Denver, CO

She was great!

Beijing, 11

Very good speaker.

Erik G.
Grand Junction, CO

As someone who doesn't regularly practice in this area, thought this program provided a good general overview to get a good overall feel of M/A.

Allan S.
San Antonio, TX

She is a great presenter. Well Done.

James H.
Portland, OR

Absolutely outstanding!

Yolanda T.
Nashua, NH

Fantastic course

Jed M.
New York, NY

Excellent course.

Charles F.
San Clemente, CA

Very comprehensive and well put together.

Rosalie F.
New York, NY

She made an uninteresting subject interesting.

Evan S.
Great Neck, NY

Great course


Very Helpful!

Chris W.
Plainfield, IL

Incredibly difficult topic presented very clearly.

Jacqueline K.
Eliot, ME

Very well organized - excellent presentation.

Thomas M.
Washington, DC

I've been a business and securities lawyer for 44 years, and this is the finest 90 minute CLE course ever presented on this subject matter.

Steven F.
Allen, TX

Good course

Rosemarie B.
Cranford, NJ

written materials were very helpful

Gail G.
Phoenix, AZ

This was absolutely one of the best Lawline programs I have viewed. Thank you

Lisa L.
Buena Vista, CO

Good program

Carl F.
Houston, TX

Excellent presentation; I liked presenters humor

Dennis B.
Phoenix, AZ

Instructor was solid. Very impressive. I learned a great deal.

Janet T.
Jacksonville, FL

Excellent presentation and easy for a beginner to follow.

Julie G.
San Antonio, TX


John W.
Lantana, TX


Darla G.
Dallas, TX

Excellent 101 course!

Ron V.
Greenwood Vil, CO

The course provided a number of interesting nuances that I will be able to use in M&A transactions.

Victor P.
Fort Lauderdale, FL

Fantastic - enjoyed the information and the presentation by someone who made it more interesting.

Matt E.
Dallas, TX

Exceptional CLE.

James W.
Melville, NY

Well done!

Jennifer F.
Los Angeles, CA

Appreciate her enthusiasm. Great teacher.

Charles R.
Short Hills, NJ

Excellent presentation. Engaged speaker.

Eric F.
Lansing, MI

Program and presenter were both outstanding!

Kathryn S.
Saint Petersburg, FL


Ada A.
Winter Park, FL

Great presentation. She has lots of knowledge and shared it well.

Joseph V.
Ronkonkoma, NY

Very good

Uri L.
Newport Coast, CA

Excellent presenter and material

David G.
Argyle, TX

Very informative

Henry V.
Naples, FL

Great presenter!

Lorena S.
Davie, FL

Excellent course and instructor was great in her presentation of the material!

Elizabeth T.
Caldwell, NJ

I thought this was on of very best programs I have watched.

Gordon P.
Weson, VT


Juan Carlos L.
Los Angeles, CA

Excellent speaker with personality

Betty B.
Virginia beach, va, VA

Good basic overview l

Selina C.
brooklyn, NY

I really enjoyed the lecturer.

Terry T.
Plano, TX

Best one yet!

Louis D.
Phoenix, AZ

Excellent presentation on different types of mergers.

M J H.
Brandon, FL

Amazing knowledge and am impressed with this delivery of a most often difficult topic.

Darcy O.
Brooklyn, NY

GREAT job by the presenter. Well-organized and easy to understand, even for a litigator like me!!

Brian H.
Saint Johns, FL

Long program but the speaker kept me engaged.

lynn l.
Miami, FL

Really good presenter.

Lynn C.
Midland, TX

I usually do not make extended comments on lecturers, but this was done exceptionally well. The course materials are very well done and clearly delineating between buyer and seller purposes and protections.

Patrick O.
Brooklyn, NY

Excellent. Well worth the time. She's liking (that means sometime to me) and covered the matter extensively!

Jonathan W.
New York, NY


Steven S.
Davis, CA

I've always wanted to practice this area of law and this walked me through it. Hope I get to put to use one day.

James F.
Stamford, CT

excellent speaker

Vivian C.
Miami, FL

Very good presentation.

Michael L.
Coral Springs, FL

Excellent and entertaining presentation

Michele B.
Orlando, FL

favorite presenter so far. personable.

Daniel M.
Hicksville, NY

The speaker's pleasant demeanor and positive attitude made the presentation much better.

Paul G.
Lake Forest Park, WA

Excellent presentation!

Thomas W.
Sonoma, CA

Excellent and thorough.

Lauren M.
Williamsburg, VA

I enjoyed Ms. Butler's presentation style and found the slides to be very thorough.

Deanna B.
Houston, TX

Dynamic and engaging speaker. Great course!

Kenneth B G.
Great Neck, NY

One of the best speakers and courses in my experience---terrific!

Craig C.
Fort Worth, TX

Plain speak was great

james k.
Apple Valley, CA

What a wonderfully enthusiastic person -- a superb spokesperson for her topic.

Thomas F.
Peconic, NY


Tommy T.
Fayetteville, NC

Great presentation to listen to more than once.

Miami, FL


Dennis G.

Great primer course on M&A transactions.

Michelle B.
Williamsburg, VA

She was great, the best I have seen so far.

Beverly R.
Apex, NC

Excellent speaker

Lois S.
San Antonio, TX

Easy, conversational presentation.

Pauline M.
Fuquay Varina, NC

Very well organized. The speaker is very easy to listen to!

Christopher K.
St. Louis, MO


Paul O.
San Diego, CA

Thank you

Jennifer F.
Pendleton, OR

Good nuts-and-bolts lecture. And I love the cheerful and relaxed style of Margaret Butler. :)

Matthew W.
New York, NY

I really liked that the speaker shared specific language from buyer and seller perspective. Nicely done!

Pamela W.
Costa Mesa, CA


Barbara R.
san francisco, CA

an excellent course, and well presented in simple to understand language.

Larry S.

Extremely well done and informative.

Alison K.
San Diego, CA

Good presentation.

Cynthia J. T.
Greeley, CO

Yay! Great, insightful, experienced presenter! Margaret Butler on Lawline M&As is one I will listen to again & again. Really liked her initial joke about how many lawyers it takes to change a lightbulb

David P.
Minnetonka, MN

Good presentation

Kyle H.
Succasunna, NJ

This program was very well done.

J. Donald H.
Manhasset, NY

good program

Joanne F.
San Jose, CA

excellent course

Croton on Hudson, NY

One of the great things about this kind of CLE is that this course like many others really provides practitioners with the know how and background to be helpful to your clients and better informed on the nuances of the subject matter.

Larry M.
Charlotte, NC

I thought Ms. Butler was outstanding

Steven W.
Squaw Valley, CA

Great material

Brian P.
Colorado Springs, CO

Loved your attitude!

Lorenzo L.
Colleyville, TX

Well organized and thorough explanation of Mergers and Acquisitions!

lawrence r.
White Plains, NY

very clear and cogent presentation

David J.
Pompano Beach, FL

This course was very informative.

Mollie K.
Houston, TX

very comprehensive!

Harvey F.
Sunny Isles Beach, FL

Very informative. Thank you!

Edward H.
Chicago, IL

This speaker knows her stuff! Good materials for the course.

Linda E.
Roswell, GA

Excellent presenter. Appreciated the no-nonsense approach.

Valerie M.
Clearwater, FL

Great presentation! Speakers genuine interest and passion for the topic really came through

Hailey F.
Manhattan, NY

One of the best programs I've watched.

Stephanie T.
Manhattan, NY

very informative.

Karen T.
Crystal Lake, IL

Best CLE I have taken! She was awesome and content was awesome.

Kristin Keely R.
Bedford, VA

Excellent speaker - she presented the information in a concise, but approachable format.

William G.
Melville, NY

Great presentation.

Lillian M.
North Brunswick Township, NJ

M. Butler was a delight to watch. Super engaging and informative.

Staten Island, NY

Outstanding presentation. Great personality.

Jennifer L.
Land O' Lakes, FL

I really liked her analysis and examples used throughout the course.

Elizabeth F.
Mundelein, IL

Strong speaker -good points on a complicated topic

Gabriel A.
Jacksonville, FL

great program . Enjoyed the presenter!

Sheila R.
white plains, NY

The speaker is an excellent, thorough and approachable teacher. Very well done.

Edward S.

A great overview and refresher course. The speaker was lively and passionate about the subject matter!

Diane E.
Justice, IL

good overview

Michael B.
Chicago, IL

very insightful

Matthew M.
Ann Arbor, MI

This lecture was fantastic. A+ for the lecturer!

John A.
Evanston, IL

Good overview

Thelma F.
San Francisco, CA


Paul B.
Elgin, IL

Great presentation!

William C.
St. Louis, MO

+good substantive presentation

William D.
New Lenox, IL

I like the fact the speaker included contract clauses in her powerpoint for future reference by me when I need to draft an agreement.

Steven B.
Chicago, IL

Ms. Butler is an excellent presenter.

Paul B.
Evanston, IL

Wonderful speaker - great to listen to someone who knows the material and loves it as well.

Susan T.
New Braunfels, TX

Helpful in representing physicians in today''s healthcare world.

Bryan B.
Chicago, IL

An excellent overview -- informative and well delivered

Jeffrey B.
Chicago, IL

Very informative, professionally presented.

Lawrence R.
Staten Island, NY


Phil S.
Houston, TX

Good overview of subject matter.

Leanna A.

A lot of great information on the M&A process.

Michael G.
Riverwoods, IL

very informative program and materials

Steven F.
Garden City, NY

Great overview - should probably bifurcate course for those who never do public deals and for those whose practice focuses on or includes public companies as buyer or target client.

Kenneth C.
New York, NY

An excellent speaker and communicator

Robert Z C.

Not exactly a "nuts and bolts" course, but definitely a good overview of concepts to consider.

Retha M.
Columbus, GA

The slides for this course were especially helpful in presenting the key information.

Karin V.
Los Angeles, CA

Knowledgeable speaker; topic very well presented.

Richard M.
Hamburg, NY

good overview

Andrew S.
Short Hills, NJ

One of the better presentations in regard to substance -- and sophistication level.

Shara L.
Los Angeles, CA

Great presentation!

Michelle C.
New York, NY

This is one of the best CLE courses I've taken. Excellent content, good presentation.

William B.
Bronxville, NY

Great overview. Very helpful.

Robert S.
Anaheim, LB

Great Program I highly reccomend for any lawyer doing M&A's

Melissa G.
Baltimore, MD

This is one of the best seminars I have taken in awhile. The speaker was great. the material was well put together and it flowed.

Eliot A.
Orlando, FL

Very interesting.

Paul B.
Charlotte, NC

Great course.

Elizabeth Z.
Raleigh, NC

Thank you - very interesting.