NACD - National Association of Corporate Directors

The Role of the Board in M&A

Date: October 22, 2015
Series: Boardroom Excellence

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License to Access and Use


Before accessing a digital download on this website, National Association of Corporate Directors ("NACD") requires your affirmative assent to the following terms and conditions:

License: NACD hereby grants you a nonexclusive, non-transferable, non-sublicensable, limited license to view, save and print one (1) copy of each digital download (the "Works") for personal, noncommercial purposes, contingent upon your adherence to the following terms and conditions:

Ownership of Intellectual Property: At all times NACD will retain all right, title and interest in and to the Works, including without limitation, copyrights, trademarks and any other rights and interests. This license does not convey to you, your business, or your employer any right, title or interest in the Works, nor in any portion of the Works, but only constitutes a limited license to use the Works as specified herein.

Restrictions: You may not reproduce, copy, modify, publish, transmit, participate in the transfer or sale of, create derivative works from, distribute, publicly display, or in any other way exploit the Works, in whole or in part, other than as expressly set forth herein. You may not remove or alter any copyright or trademark notices referenced in the Works.

Your Acceptance: YOU ACKNOWLEDGE THAT YOU HAVE READ AND YOU UNDERSTAND THIS AGREEMENT AND ACCEPT AND AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT.


I have read this agreement carefully and understand its terms.

PLEASE NOTE: If the downloaded PDF does not open automatically in a new window, please check your Downloads folder.

License to Access and Use


Before accessing a digital download on this website, National Association of Corporate Directors ("NACD") requires your affirmative assent to the following terms and conditions:

License: NACD hereby grants you a nonexclusive, non-transferable, non-sublicensable, limited license to view, save and print one (1) copy of each digital download (the "Works") for personal, noncommercial purposes, contingent upon your adherence to the following terms and conditions:

Ownership of Intellectual Property: At all times NACD will retain all right, title and interest in and to the Works, including without limitation, copyrights, trademarks and any other rights and interests. This license does not convey to you, your business, or your employer any right, title or interest in the Works, nor in any portion of the Works, but only constitutes a limited license to use the Works as specified herein.

Restrictions: You may not reproduce, copy, modify, publish, transmit, participate in the transfer or sale of, create derivative works from, distribute, publicly display, or in any other way exploit the Works, in whole or in part, other than as expressly set forth herein. You may not remove or alter any copyright or trademark notices referenced in the Works.

Your Acceptance: YOU ACKNOWLEDGE THAT YOU HAVE READ AND YOU UNDERSTAND THIS AGREEMENT AND ACCEPT AND AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT.


I have read this agreement carefully and understand its terms.

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Event Details

October 22, 2015

For the first half of 2015, M&A deal value hit $2.28 trillion, its highest number since the global financial crisis. And total global deal value for July 2015 alone was $549.7 billion, entering record books as the second highest monthly total since April 2007. With these record-setting transactions, come high stakes and heightened responsibilities for the boards which govern the organizations involved. There are questions that should be asked, and actions that should be taken, all of which may not be apparent. Following a recent FAQ blog on M&A published by the NACD research department, we partner with Broadridge Financial Solutions to have a conversation about extent of the board’s involvement in M&A. We will cover:

  • Current M&A trends
  • The duties of care and loyalty applied in the M&A context
  • The roles of the boards of the acquiring and acquired company, and their integration post M&A
  • Dividing lines between the board and management in deal strategy, due diligence, deal making and post-M&A integration

Additional Resources

FAQs onthe Role of the Board

Increase in Activism Underscores The Need to Know Shareholders