
How Third-Party NDAs Impact M&A Deals
When companies share sensitive information during an M&A process, confidentiality has to extend beyond the buyer and seller to every attorney, accountant, lender, and consultant who touches the data. Third-party NDAs define who can access information, restrict it to “deal-only” use, and make the buyer responsible for any representative breach—so diligence can move fast without leaking customer lists, pricing, or employee data. The safest deals pair tight NDA language with practical controls like staged disclosure, secure deal rooms, and clean teams for highly sensitive or competitive information.












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