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Clifford Chance

Clifford Chance

Briefings

What is driving due diligence? The importance of anti-bribery due diligence in M&A transactions [Japanese version]

19 December 2013

Anti-bribery due diligence in merger and acquisition transactions has been relatively commonplace in transactions involving buyers subject to the US Foreign Corrupt Practices Act 1977 for some time. With the UK's new Bribery Act 2010 now in force, and with the intensified focus on corruption by authorities across the globe, the demand for anti-bribery preventative measures has become much broader. Buyers (and underwriters), even those not within US jurisdiction, are increasingly concerned about target companies' historic compliance breaches and the measures and controls in place to prevent such breaches prior to acquisition. As enforcement spreads, the business community has recognised that the lack of a robust anti-bribery compliance programme will affect their bottom line directly, including the value realised from corporate acquisitions and disposals.

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