Is there any maximum time period for negotiations or due diligence?

Mergers & Acquisitions (2nd edition)

Norway Small Flag Norway


Myanmar Small Flag Myanmar


Greece Small Flag Greece

No maximum time period for negotiations or due diligence between interested parties is provided for in relation to private companies. Parties should however refrain from unjustifiably prolonging negotiations, pursuant to the general good faith obligation imposed by the Greek Civil Code. A time limit can be agreed inter partes, after the expiration of which negotiations are either deemed as failed or can be renewed.

In case of listed companies, the acceptance of bid must take place within 4 to 8 weeks from the date that the offer document was published.

Germany Small Flag Germany

The public takeover procedure is subject to a strict timetable that needs to be complied with by the bidder and the target. In general, a public offer process under the German Takeover Act takes a minimum of nine weeks and a maximum of 24 weeks from the announcement of the acquisition of control (mandatory offer) or the decision to launch a voluntary tender offer to completion of the offer procedure. Once the bidder has acquired control of the target or published its decision to launch a voluntary tender offer, the bidder is required to submit the offer document to BaFin for approval within four weeks. The four-week period may be extended by BaFin up to a total of eight weeks under certain circumstances (e.g., in cross-border transactions).

In private transactions, there is no maximum period for negotiations or due diligence. Typically, the due diligence phase is between six and 12 weeks (depending on the deal size and complexity) and the negotiation phase is typically two to four weeks.

Belgium Small Flag Belgium

There are no general rules as to the timeframe for negotiations or due diligence. The bid process itself is, however, subject to a certain timeframe.

Vietnam Small Flag Vietnam

Vietnam law does not specify any maximum time period for negotiations or due diligence in connection with Vietnam M&A transactions. Such matters are purely for commercial negotiation between the parties.

Switzerland Small Flag Switzerland

There is no maximum time period for negotiations or due diligence. Only once a bidder has formally launched an offer, a set timetable applies until completion of the transaction.

Russia Small Flag Russia

No, there is no pre-set maximum period for negotiations and/or due diligence. Usually, the process of entering into and completing an M&A transaction takes from two months to half a year or even longer in the case of complex deals including detailed due diligence.

Romania Small Flag Romania

No. In practice, the due diligence exercise and the negotiations are completed within 2-3 months.

Qatar Small Flag Qatar


Updated: February 14, 2018