IBA Annual Conference Toronto 2025

2 Nov - 7 Nov 2025

Session information

Running auctions or strategic review processes – legal tips and advice

Thursday 6 November (1615 - 1730)

Committee(s)

Corporate and M&A Law Committee (Lead)

Description

Curious about making more impact in strategic processes? This panel will provide insight into the design and execution of auction and strategic review processes in M&A transactions.

Although often partnered with financial advisors, these processes require close legal oversight to manage risk, preserve optionality, optimise for outcome and public support, as well as ensure compliance with fiduciary duties and applicable regulations.

The session will explore the interface between legal strategy and commercial objectives, particularly in cross-border transactions where regulatory, antitrust, and foreign investment review risks are heightened. 
It will cover legal structuring of competitive processes and how to partner with clients and deal teams, including: the use of process letters and staged bidding, confidentiality management, diligence protocols, exclusivity arrangements, and the allocation of liability through preliminary documentation.

With insights from senior M&A counsel from multiple jurisdictions, this session will provide practical guidance on how legal teams can proactively shape auction dynamics, mitigate execution risk, and deliver value to clients throughout the process.