Making M&A a Core Competency
Jeffrey Adelman, Vice President, General Counsel and Secretary, J2 Global, USA
For many companies, transactions involving acquisitions and dispositions of businesses (commonly referred to as mergers and acquisitions or M&A transactions) are extraordinary events that occur infrequently and require no in-house M&A expertise. These companies may rely exclusively on outside counsel to handle the legal aspects of the M&A transaction. However, for acquisitive companies, such as j2 Global, M&A transactions are ordinary and frequent. For these companies, the in-house legal team can provide both tangible cost savings and intangible value by handling much of the M&A-related legal work internally rather than having it handled by outside counsel. In an age of ever increasing pressure for the in-house legal department to deploy corporate assets efficiently, this provides an opportunity to demonstrate hard dollar cost savings on a recurring basis. Most important, the cost savings and intangible benefits in-house counsel brings to the deal is in the shareholders’ best interests, as it preserves limited corporate resources while increasing the odds of achieving the long-term transaction goals.
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