Upon due diligence, the parties will be able to establish a final agreement, depending on the structure of the transaction, called a “merger agreement,” “share purchase agreement” or “asset purchase contract.” These contracts are generally 80 to 100 pages long and focus on five key types of terms: This part of the agreement may cover everything related to the seller`s activities, including, but not only, contracts, contracts, personnel affairs, compliance, financial statements, liabilities and heritage securities. Intellectual property is also a critical issue, especially for technology companies. Based on the fifth wave of mergers (1992-1998) and until today, companies are more likely to acquire in the same business or near companies that complement and strengthen an acquirer`s ability to serve their customers. In the case of R and D involving large companies with many shareholders, a shareholder representative should participate in the negotiations in order to defend their interests. This could be one of the majority shareholders or it could be a professional company hired for that purpose. The merger of equals is often a combination of companies of similar size. Since 1990, more than 625 merger transactions have been announced as mergers totalling $2,164.4 billion.  Some of the largest mergers of equals occurred during the bubble dot.com in the late 1990s and 2000: AOL and Time Warner ($164 billion), SmithKline Beecham and Glaxo Wellcome ($75 billion), Citicorp and Travelers Group ($72 billion). The most recent examples of these combinations are DuPont and Dow Chemical ($62 billion) and Praxair and Linde ($35 billion). Even mergers of companies established in the same country can often be considered international and require maic detention services. For example, when Boeing took over McDonnell Douglas, the two U.S. companies had to integrate their operations in dozens of countries around the world (1997). This also applies to other apparently “transnational” mergers, such as the $29 billion merger between Swiss drug manufacturers Sandoz and Ciba-Geigy (now Novartis).