For trainees and junior lawyers · English law

M&A Foundations

A listed payments group buys a licensed crypto exchange in Ireland, from first call to completion. You are the junior on the deal.

How a private company is bought, taught through one deal and its sale agreement, clause by clause.

A meeting room seen side-on at table height, close up. On the buyer's side of the table the due diligence stands in lever-arch files, a row of spines with more files lying flat on top in two squared-off piles and the last file of the row leaning on its neighbour, two index tabs sticking out. In the middle lies the share purchase agreement, closed and thick, two small flags at its edge and one copper pen on it. At the seller's end the chair has been pushed back from the table and swung round, its back rail running on either side of a coat whose collar is folded over it, and an umbrella hangs by its crook from the end of the table. Behind, a plain wall with one window onto the town. No one is in the room.

You will be able to:

  • Explain how a private company is bought, from first talks to completion
  • Read a share purchase agreement and say what each part does
  • Explain what the buyer and the seller each want, and why

15 chapters with tests · a final exam · a certificate · about 8 hours in all

Chapters

Module 1

The Lay of the Land

Module 2

Before the Deal

Module 3

Price

Module 4

The SPA

Module 5

Getting It Done

One case runs through every chapter: a payments group buys a crypto business from its investor owner. Read the full share purchase agreement →