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Mergers and Acquisitions in Finland: Legal Due Diligence, Deal Structuring and Closing Support

December 19, 2025 at 7:51 am

Mergers and Acquisitions in Finland: Legal Due Diligence, Deal Structuring and Closing Support

Published: 19 December 2025

A business-first guide to running an acquisition or sale with clear risk allocation, robust documentation, and efficient execution — for management teams, owners and in-house counsel operating in Finland and cross-border.


An M&A transaction is never “just a legal project”. It is a strategic business decision that requires reliable information, disciplined execution, and documentation that protects value after signing and closing. At LKOS Law Office, we advise buyers, sellers and investors in Finnish M&A and cross-border acquisitions, with a focus on pragmatic risk management and commercially workable solutions. For our full offering, see Mergers and Acquisitions.

When to involve an M&A lawyer in Finland

The most common value leakage in a deal happens early: unclear scope, incomplete information flow, and misaligned expectations on risk allocation. Engage counsel as soon as you are considering a transaction structure, especially if you need support with:

  • Buy-side legal due diligence in Finland (corporate, contracts, employment, compliance, IP/data)
  • Sell-side vendor due diligence and disclosure preparation
  • Deal structuring: share purchase vs asset purchase, carve-outs, earn-outs and management incentives
  • SPA/APA drafting, negotiation support and warranty/indemnity frameworks
  • Closing mechanics: CPs, board/Shareholder approvals, filings, escrow and post-closing implementation

Legal due diligence that supports decision-making

Legal due diligence should not be a “data room report for its own sake”. A strong diligence workstream produces deal-relevant outputs: (i) a clear risk map, (ii) practical mitigation steps, and (iii) inputs to pricing and contract protections. We typically review (scope depends on the target and sector):

Core diligence workstreams

  • Corporate & governance: ownership, decision-making authority, share classes, options, boards, consents
  • Commercial contracts: change-of-control clauses, termination rights, key customer/supplier dependencies
  • Employment & management: executive terms, incentives, non-competes, reorganisations and transfer-related obligations
  • Compliance and regulatory: permits, sanctions/trade compliance touchpoints where relevant
  • IP and data: ownership, licensing, material IT contracts, data protection risk areas

Deal documentation: making risk allocation enforceable

A high-performing SPA/APA clarifies who carries which risk, for how long, and how a breach is addressed in practice. We help clients negotiate and document:

  • Warranties and disclosure (including disclosure letters and practical disclosure standards)
  • Indemnities for identified risks and sector-specific exposures
  • Limitations of liability (caps, baskets, de minimis, time limits, knowledge qualifiers)
  • Closing conditions, interim operating covenants and purchase price adjustments
  • Post-closing obligations and governance arrangements

Cross-border M&A in practice: coordination and execution

Cross-border deals require disciplined coordination: multiple advisors, multiple legal systems, and time-sensitive approvals. We operate as a transaction “control tower” on the legal side—keeping the process moving while ensuring documentation quality and alignment with the commercial timeline.

Reference highlight: refinancing and collateral arrangements (Signet Bank)

Transactions frequently include financing and security components that must match the business logic and the risk profile. As an example, we advised Signet Bank on refinancing and collateral arrangements. Read the case note (English):

  • LKOS Law Office advised Signet Bank AS on refinancing and collateral arrangements

Why LKOS Law Office for M&A

Clients value three things in a transaction: speed without shortcuts, clarity on risk, and documentation that works in real life. Our approach combines legal precision with commercial judgement so management can make decisions with confidence.

Talk to our M&A team

If you are planning an acquisition, sale, investment round, or restructuring in Finland (or cross-border), we can support you from diligence to closing and post-closing implementation.

Explore: Mergers and Acquisitions
People: Our team | Oscari Seppälä | Liene Krumina

Contact: info(at)lkoslaw.fi
Office: Töölönkatu 4, 00100 Helsinki, Finland

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