What’s a Non-Disclosure Agreement?
A Non-Disclosure Agreement (NDA) is also referred to as a Confidentiality Agreement. With reference to a Mergers & Acquisitions transaction, an NDA is usually executed by a prospective buyer prior to receiving a Confidential Business Memorandum/Review (CBM) in a sale process. In a less common circumstance, an NDA can also be executed by a seller after the closing of an acquisition to ensure that the details of the transaction are not disclosed to the marketplace.
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By Tom