The verification of the integrity of a target company prior to acquisition has acquired an autonomy compared to other due diligences in a merger-acquisition operation.

This due diligence is now at the heart of the go/no-go decision.

This requirement is reinforced by, on the one hand, the second version of the practical guide of the French Anti-Corruption Agency (AFA) of March 12, 2021 on anti-corruption checks in the context of mergers and acquisitions, and, on the other hand, the decision of the Court of Cassation of November 25, 2020 (No. 18-86.955) relating to the specific situation of merger-absorption, which changes the case law on the transfer of criminal risks.

To ensure maximum security for its clients, Grenier Avocats has developed a specific compliance audit service, independent in particular from other parties (internal or advisors) involved in the acquisition operation, as well as a service for the ethical integration of the target company after the acquisition.

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