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Due diligence committee
Practical Law ANZ Glossary w-018-3711 (Approx. 2 pages)
Glossary
Due diligence committee
A committee convened for the purposes of carrying out a due diligence investigation in connection with an offer of securities. The committee often consists of:
- The legal advisers to the offeror.
- Representatives of any underwriter.
- The independent accountant advising on the listing.
- Key members of the company's senior management.
The committee will typically:
- Review information provided to it by each of its members, including detailed legal and financial due diligence reports prepared by the legal advisers and independent accountant respectively.
- Consider various drafts of the offer document and a verification report.
- Make a report and recommendation to the board of directors of the offeror as to whether it should approve the offer document and proceed with the offer.