M&A Foundations · glossary
The lawyer's word for the price — what the buyer gives in exchange for the shares, whether cash, shares in the buyer, or a mix. In Sunrise: €42 million plus locked box interest. SPA definition · Chapter 1
Explained in Chapter 1, What M&A Actually Is, of M&A Foundations.
M&A stands for mergers and acquisitions — the business of buying and selling companies. In English legal practice the everyday deal is not really a “merger” of equals at all. It is an acquisition, where one party (the buyer) buys a company (the target) from its owners (the sellers) for a price (the consideration). The deal is recorded in one central contract — usually a Share Purchase Agreement, or SPA — and supported by a cast of documents, advisers and processes.Read Chapter 1, What M&A Actually Is →
the consideration for the Shares set out in clause 3.1;Read the definition in the document →
Related terms
Where this term lives
Every chapter of M&A Foundations is free to read, including the full training share purchase agreement. It is part of one complete fictional deal, with every document attached and a test after every chapter. Open M&A Foundations → · All terms A–Z →