Due diligence can be a highly complicated exercise. It becomes even more so when the target company is involved in a joint venture that includes one or more partners. In this edition of Inside the Deal, Sullivan & Cromwell LLP M&A partner Frank Aquila says in this scenario a buyer may have little or no direct contact with those third parties. It's critical, says Aquila -- who recently participated in The Deal's due diligence best practices webcast -- to understand the contracts that underpin the JV, paying particular attention to change of control provisions. - Suzanne Stevens
