The Board's Role in M&A

Focusing on the duties of boards on the buy-side of a transaction, the panelists discussed the fiduciary duties owed by directors in all contexts as well as the appropriate role of a board at each step of the transaction, including: 1) developing investment strategy and identifying potential targets, 2) executing the transaction, and ultimately, either 3) post-transaction integration or 4) termination of the transaction.