Impact d'une vendor due dilligence dans le cadre d'une transmission d'entreprise

Abstract

Transmitting or acquiring a business is a common practice in the life cycle of a business. In this process, it is usually the acquirer who carries out an acquisition audit to gain a better understanding of what he is going to buy. Several books and researches have been carried out on the subject, which is chiefly concerned with purchasers. From there, we decided to put the seller in the limelight by choosing the vendor due diligence as a subject for this research thesis. It is an independent and thorough study, initiated by the transferor, of his company’s financial, legal, tax … matters. During a transmission, the seller tends to over-evaluate or under-evaluate their businesses. In both cases, they find themselves losers and easily manipulated during negotiations with the purchasers. This is quite normal given their lack of information about their own businesses. This research thesis therefore deals with the definition of the concept of vendor due diligence and the context in which it is used. Then it moves to identifying its advantages and disadvantages to allow readers a complete assimilation of the practice. After what comes a part about the usefulness of the vendor due diligence report as well as its content. To find out if the theory corresponds to practical life, we carried out a qualitative study. In this study, we spoke with several experts and entrepreneurs in different roles. In this way, we would be able to see what practice brings to the theory as a plus on the subject.