On 4 October 2023, Deputy Attorney General Lisa Monaco of the U.S. Department of Justice announced a new DOJ-wide policy that seeks to provide greater certainty as to the potential benefits to acquirers that uncover criminal conduct at a target company. The DOJ’s Mergers & Acquisitions Safe Harbor Policy for voluntary self-disclosures provides greater certainty to acquirers who self-report within the safe harbor period, fully cooperate with the DOJ in its investigation, and engage in requisite, timely, and appropriate remediation, pay restitution, and disgorge any ill-gotten gains.
Where does the responsibility lie for an acquiring company to understand and evaluate cyber risks in an acquisition? How can these risks be identified and mitigated in the middle of a fast-paced deal? A data breach can have serious financial consequences to both the buyer and the seller. A significant security breach can lead to a nearly instantaneous devaluation of assets and can severely damage the acquiring company’s business viability, raising serious questions as to purchase price and follow-on integration issues.
Baker McKenzie and the Financial Times co-created a multimedia series, the FT Big Deal, to explore new trends shaping transactions and how to unlock value. In this series, Baker McKenzie lawyers are joined by industry thought leaders to discuss the key developments and issues shaping the future of global transactions.