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Vertical File 03 — MNA · Deal Teams

Sign nothinguntested.

A deal is a story about the future told with someone else's numbers. Opposia argues that story apart — the synergies, the customer concentration, the consents nobody mapped — across every scenario the model politely declined to run.

Executives reviewing a transactionDeal Teams

The exposure

What goes wrong when no one argues back.

01

The synergy case that double-counts

Procurement savings claimed by two workstreams. Revenue synergies stacked on cost synergies. The model adds up beautifully — until diligence adds it up.

02

Concentration risk left unpriced

The target's top customer is 30% of revenue and uncontracted. Everyone in the data room knows; nobody's model says it out loud.

03

Consents and change-of-control traps

Buried in contract forty of sixty: a change-of-control clause with a termination right. Found post-signing, it becomes leverage against you.

04

A CIM written to be believed

Sell-side materials are advocacy, not evidence. Treating them as neutral is how acquirers inherit someone else's problems at full price.

The charge sheet

What Opposia attacks in m&a.

01

Synergy models interrogated for double-counting and overlap

02

Customer, supplier, and key-person concentration stress-tested

03

Change-of-control and consent obligations mapped contract by contract

04

Counterfactual scenarios: churn, flat markets, failed integration

05

Sell-side claims cross-checked against the underlying record

06

Walk-away thresholds priced against comparable resolutions

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A sample verdict

Illustrative findings from one review.

A representative excerpt — every engagement returns findings graded, sourced, and attributable to the agent that raised them.

critical

ATK-05 · Counterfactual

Model assumes retention of the target's largest customer (31% of revenue). That contract is unwritten and expires at close.

high

ATK-06 · Gap

Change-of-control consents not mapped across 60 reviewed contracts. At least 4 contain termination triggers.

medium

RSN-04 · Damages

Synergy case counts procurement savings in both Workstream A and Workstream C — approximately $4.1M double-counted.

Reviewed by 47 agents. 14 findings returned, 2 critical. Price and protections renegotiated pre-signing.

Opposia for M&A — Deal Teams