{"id":2823,"date":"2017-07-06T14:22:06","date_gmt":"2017-07-06T18:22:06","guid":{"rendered":"https:\/\/www.law.georgetown.edu\/?page_id=2628"},"modified":"2026-03-02T18:28:50","modified_gmt":"2026-03-02T18:28:50","slug":"mergers-and-acquisitions","status":"publish","type":"page","link":"https:\/\/www.law.georgetown.edu\/your-life-career\/career-exploration-professional-development\/for-jd-students\/explore-legal-careers\/practice-areas\/mergers-and-acquisitions\/","title":{"rendered":"Mergers and Acquisitions"},"content":{"rendered":"<p>M&amp;A lawyers assist their clients with the appropriate financing for mergers and acquisitions and provide advice concerning the drafting, negotiation, and performance of contracts for the sale of portions of the business. M&amp;A transactions are among the most complex and significant events in the life of a firm\u2014 the consequences of which reverberate both internally and externally.<\/p>\n<p>The vast majority of M&amp;A work is done at large and medium firms. Large firms often focus on\u00a0the buying and selling of public companies. These are generally the biggest and most complex deals, are often cross-border and can involve cash and\/or stock considerations.\u00a0M&amp;A\u00a0deals between private companies can also be multifaceted, particularly where partnerships are involved.<\/p>\n<h2>What Do M&#038;A Lawyers Do?<\/h2>\n<p>From Chambers Associate M&amp;A Practice Guide:<\/p>\n<ul>\n<li>Identify the client&#8217;s business objectives.<\/li>\n<li>Identify the legal issues \u2013these vary depending on factors like whether the deal is friendly or unfriendly.<\/li>\n<li>Build a &#8220;road map&#8221; for the client from start to finish, and include a timeframe.<\/li>\n<li>Advise on deal and negotiating tactics.<\/li>\n<li>Conduct due diligence on other side.<\/li>\n<li>Determine \u2013 with the help of tax attorneys \u2013 the tax implications and if they require special structuring.<\/li>\n<li>Work with antitrust attorneys to assess regulatory obstacles, gain regulatory approval and analyze any other required regulatory approvals.<\/li>\n<li>If cross-border, work with local counsel. Review all the client&#8217;s contracts: business, employment, outsourcing, debt instruments, preferred stock, etc.<\/li>\n<li>Obtain third-party consents from lenders or parties to other contracts.<\/li>\n<li>Negotiate agreement, sign, announce publicly, close the deal.<\/li>\n<li>Attorneys for the target decide whether to negotiate, refuse the buyer&#8217;s overtures, sell, or do a deal with another company.<\/li>\n<\/ul>\n<h2>What to Do If You&#8217;Re Interested in Pursuing a Career in Mergers &#038; Acquisitions<\/h2>\n<h3>Georgetown Law Courses\/Clinics<\/h3>\n<ul>\n<li><a href=\"https:\/\/curriculum.law.georgetown.edu\/course-search\/\">Georgetown Law Corporate Law and Securities Regulation Curriculum Guide<\/a><\/li>\n<\/ul>\n<h3>Georgetown Law Student Groups<\/h3>\n<ul>\n<li>Antitrust &amp; Competition Law Student Association<\/li>\n<li>The Securities and Financial Law Organization<\/li>\n<\/ul>\n<h3>Relevant Bar Associations<\/h3>\n<ul>\n<li>International Bar Association,\u00a0<a href=\"https:\/\/www.ibanet.org\/unit\/Corporate+Law+Section\/committee\/Corporate+and+M%26A+Law+Committee\/3006\">Corporate and M&amp;A Law Committee<\/a><\/li>\n<li>American Bar Association,\u00a0<a href=\"https:\/\/www.americanbar.org\/groups\/business_law\/committees\/ma\/\">Mergers and Acquisitions Committee<\/a><\/li>\n<li>American Bar Association,\u00a0<a href=\"http:\/\/www.americanbar.org\/groups\/business_law.html\">Business Law Section<\/a><\/li>\n<\/ul>\n<h3>Where It&#8217;s Hot<\/h3>\n<p>In recent years, M&amp;A has been one of the busiest and most consistent areas of practice for large firms in large markets. Traditionally, the New York market has lead the way in terms of deal count and deal value, but other markets such as the San Francisco Bay Area, Chicago, Houston, Dallas, Boston, and Los Angeles have active M&amp;A practices. While Washington has not traditionally been known a strong city for M&amp;A work, the market has seen some growth as of late.<\/p>\n<h2>Helpful M&#038;A Resources<\/h2>\n<h3>External Resources<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.chambers-associate.com\/practice-areas\/corporate-ma\">Chambers Associate Corporate\/M&amp;A Practice Guide<\/a><\/li>\n<li><a href=\"http:\/\/www.vault.com\/blog\/vaults-law-blog-legal-careers-and-industry-news\/what-is-it-like-to-be-an-ma-attorney\/?utm_source=LawNewsletter,&amp;utm_medium=Newsletter,email&amp;utm_campaign=02_18_2019_Law,103804&amp;referer_ID=7778\">What Is It Like to Be an M&amp;A Attorney?<\/a>\u00a0(Vault article)<\/li>\n<li><a href=\"http:\/\/www.reuters.com\/finance\/deals\/mergers\">Reuters Mergers &amp;Acquisitions News<\/a><\/li>\n<li>The Wall Street Journal (especially the\u00a0<a href=\"http:\/\/www.wsj.com\/public\/page\/news-financial-markets-deals.html\">Deals Section<\/a>)<\/li>\n<li>For a basic overview of mergers &amp;acquisitions from a business perspective, explore\u00a0<a href=\"http:\/\/www.investopedia.com\/university\/mergers\/?partner=answers\">Investopedia&#8217;s M&amp;A Page.<\/a><\/li>\n<li><a href=\"http:\/\/www.justice.gov\/atr\/public\/premerger.htm\" target=\"new\" rel=\"noopener noreferrer\">DOJ &#8211; Merger Enforcement Guidelines<\/a><\/li>\n<\/ul>\n<h3>Representative Employers\/Opportunities<\/h3>\n<ul>\n<li><a href=\"https:\/\/chambers.com\/legal-rankings\/corporate-ma-the-elite-usa-nationwide-5:1437:12788:1\">Chambers list of top-ranked M&amp;A firms<\/a><\/li>\n<li><a href=\"http:\/\/guides.vault.com\/View.aspx?ISBN=9781438163062\">Vault Guide to the Top Law Firms for M&amp;A, 2015 Edition<\/a><\/li>\n<li><a href=\"http:\/\/www.fcc.gov\/mergers\">Federal Communications Commission (FCC)<\/a><\/li>\n<li><a href=\"http:\/\/www.ftc.gov\/bc\/mergers.shtm\">Federal Trade Commission (FTC)<\/a><\/li>\n<li><a href=\"https:\/\/www.sec.gov\/divisions\/corpfin\/cfabout.shtml\">Securities and Exchange Commission (SEC)<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>M&amp;A lawyers assist their clients with the appropriate financing for mergers and acquisitions and provide advice concerning the drafting, negotiation, and performance of contracts for the sale of portions of [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"parent":745,"menu_order":44,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":"","_tec_slr_enabled":"","_tec_slr_layout":""},"class_list":["post-2823","page","type-page","status-publish","hentry"],"acf":[],"ticketed":false,"_links":{"self":[{"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/pages\/2823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/comments?post=2823"}],"version-history":[{"count":18,"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/pages\/2823\/revisions"}],"predecessor-version":[{"id":34433,"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/pages\/2823\/revisions\/34433"}],"up":[{"embeddable":true,"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/pages\/745"}],"wp:attachment":[{"href":"https:\/\/www.law.georgetown.edu\/your-life-career\/wp-json\/wp\/v2\/media?parent=2823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}