Key stages of a cross‑border M&A Preparatory phase and strategy – Set clear objectives (external growth, diversification, synergies), identify targets and sign an NDA to protect sensitive data. Letter of Intent – Heads of Terms outline price, payment schedule, timeline and conditions precedent. Not legally binding but critical to guide negotiations. Due diligence – A

Corporate governance is a central issue for any company operating across the Channel. Its purpose is to ensure transparency, efficiency and compliance within management bodies while protecting the interests of shareholders, employees and third parties. 1. Directors’ Duties 1.1 France Company officers (chair, CEO, board members) must: 1.2 England Under the Companies Act 2006, directors must: