MERGERS & ACQUISITIONS PROCESS
Elfcorp assists clients to bring a coordinated approach to the M&A Process ensuring that all related activities are executed in a professional and effective manner to maximize the potential for success of the transaction. Elfcorp’s M&A Process coordinates and controls all activities in the process and serves as a planned approach for success.

1: Project Assessment and Scope of Work
Upon the client’s engagement of Elfcorp services, Elfcorp will enter into an extensive dialog with the client to assess the overall objectives of the M&A project, the scope of work and the project’s best time schedule.

2: Analysis, Evaluation and Recommendations
An analysis and evaluation of the proposed M&A Project is undertaken to provide an objective assessment and necessary information (Financial, Market, Corporate etc.) to develop an M&A strategy. Elfcorp will demonstrate the possible development of the company in line with the proposed M&A undertaking.

3: Marketing Plan
The marketing plan for the M&A is divided into three specific sections:
a. Marketing Documents
b. Deal Structure
c. Marketing Strategy
Elfcorp will prepare essential documents such as the Information Memorandum, Confidential Corporate Profile, Power Point Presentation as well as other information necessary for the process in close consultation with the client. A financial evaluation, options for legal and tax structures, a financing plan, and post M&A considerations will all be part of the marketing plan. The target group, the market, and the synergy potentials are the central focus. Prospective investors are then identified and the rationale for the approach is prepared.

4: Marketing
A buyer- oriented strategic approach is often essential for success. Elfcorp will approach potential buyers individually, and enter into discreet discussions to introduce the investment opportunity and to obtain an indication of interest. Discussions are often held on a "no name" basis, keeping the initial conversations to an exploration of shared culture and potential synergy before the client's name is disclosed.

5: Presentation
The presentation phase is the first opportunity for direct interaction between the buyer and seller with advice and guidance from Elfcorp. Exploratory discussions between the parties will identify a range of issues that will determine the level of interest of the buyer, issues for negotiation and follow-up actions to be taken.

6: Negotiation and Definitive Agreement
Elfcorp will assist the client in the negotiation process and will also provide the necessary input to help the client in clearly defining its strategic negotiating positions. The intentions and interests of both parties need to be considered carefully and where possible Elfcorp may recommend potential alternatives on points of contention to facilitate mutual consensus to proceed. Agreement on the overall deal structure will be detailed on a Term Sheet that sets out clearly the terms and conditions on which a Definitive Agreement will be prepared for execution subject to due diligence.

7: Due Diligence and Closing
After the completion of the negotiation phase and the execution of the Terms Sheet, preparation of legal documents (i.e. Definitive Agreement), legal due diligence, and the conclusion of other legal formalities, the transaction will be legally completed.

8: Transaction
The payment of the purchase price, transfer of shares and/or of the assets as well as the announcement of the transaction to employees and the press then successfully conclude the M&A process.