Board minutes: business purchase buyer

Board minutes: business purchase buyer

Completion board minutes for the buying company in a business purchase transaction

Background

A corporate purchaser in a business purchase transaction should hold a board meeting to approve the purchase and related matters.  The seller is likely to require these minutes to be produced as evidence that the purchaser has the authority to enter into the transaction.

The meeting should cover:

• the approval of the purchase of the target business and assets by the buyer
• the approval of the Business Purchase Agreement and its principal terms
• the approval of other documents entered into by the buyer as part of the transaction

About these Board minutes

These minutes are for a meeting of the board of directors of a purchaser company in a business purchase transaction.

Document features

Features include:

• Declaration of director’s interest (if applicable)
• Resolutions
  • to approve the acquisition of the target business and assets and the principal terms of the transaction
  • to approve the Business Purchase Agreement and other documents to be entered into by the buyer as part of the transaction

Explanatory guidance

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