During M&A transactions, who is normally responsible for the data room management? I assume that the seller would sometimes do it but is it something that investment banks get involved in as well?
Trending Content - Investment Banking Forum
| +166 | Evercore > Goldman and I don’t think it’s particularly close anymore | 59 | 50m |
| +152 | Article: Why UBS's Asian M&A bankers are thriving and UBS's American M&A bankers are not | 17 | 14h |
| +124 | I am a drunk MD AMA | 40 | 1d |
| +86 | UBS Offer Day | 30 | 1d |
| +75 | Santander IB? | 10 | 3d |
| +71 | I hate Wells Fargo | 19 | 16h |
| +51 | No return offer - feeling like a failure is an understatement | 20 | 11h |
| +50 | Think Twice before Recruiting for HOUSTON IB!! | 17 | 1h |
| +45 | How cooked am I as an incoming WF IB SA 2027? | 17 | 7h |
| +43 | WF Return offers | 28 | 2d |
Career Resources
In an normal sell-side process, the sell-side advisers/banks manage the logistics of the data room (setting up accounts, uploading documents/models, coordinating Q&A from the potential buyers etc.), which is just a subset of their broader role as a liaison between the buyers and the selling company. Almost all interaction between the buyers and sellers is actually done through the investment banks, or with the banks present.
FYI - managing the VDR can be very tedious, and is usually a core analyst task
^Yup. No way the seller actually manages the data room themselves - they're too busy trying to pull together files to answer the diligence requests from buyers. Managing a data room is simultaneously one of the most boring and tedious jobs and also a very important one (I've had way too many mini-freakouts from thinking I gave a competitor more permissions than they should have...).
Also, sometimes the lawyers get involved in managing the data room, but usually not.
In my experience, the seller's investment bank handles the data room, while management (seller) provides data in response to questions posed.
Always seller's advisor. I'm pretty glad we hired someone at our firm specifically for sorting data/data room management so I can mostly avoid it. Files we get from the clients are usually terrible.
Whoever God hates most
Assumenda est rerum sed quia omnis. Placeat praesentium atque enim adipisci. Voluptatem vero et error. Eaque et aut et aperiam ullam officiis enim.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...