The target's board of directors typically requires __________ before making a recommendation on whether to accept the offer and approve the execution of a definitive agreement.

Question

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A fairness opinion is typically required by the target's board of directors before making a recommendation on whether to accept an offer and approve the execution of a definitive agreement. Additional due diligence and a sum of the parts analysis may also be conducted, but they are not always required.

The Target's Board of Directors Typically Requires __________ Before Making