Auctions: From the Bidder’s Perspective

Corporate partners Walter Mostek, Justin Watkins and Vanessa Tabler co-authored an article for Practical Law outlining the fundamental differences between an auction and a negotiated transaction, highlighting the unique challenges a bidder faces in an auction. It discusses the preliminary steps in an auction, from negotiating the confidentiality agreement to conducting due diligence.

The article explores key strategies for preparing a competitive bid package, including how to approach the seller’s bid-draft acquisition agreement. Furthermore, the co-authors discuss the changing dynamics of later bidding rounds and negotiations, as well as considerations for teaming up with other potential buyers to submit a consortium bid.

The full article is available to Practical Law subscribers.