Hiring SRS After a Merger

Normally SRS engages the seller and the buyer in an M&A deal sometime after the term sheet is signed but before the closing. We use that time to review a close-to-final draft of the merger agreement, do our own due diligence, and get approval from the shareholders. The process is usually pretty quick (couple days to a couple weeks), although we?ve done it in less.

Recently we were asked if we would be the shareholder rep for a deal that closed more than six months prior. We discussed with the person then serving as the Rep why they were looking to make a change, what was happening with the transaction, and the status of outstanding claims. We decided to take a successor shareholder rep role because we had not worked with this particular investor group before and saw an opportunity for us to add value through our professional management of the process and the open issues. Although it was unusual for us as a company to step in after closing, we knew we could bring value to the transaction, and the VC who was the rep was happy to retire the position.