Solutions / Corporate finance
A data room where the bidders never see each other.
Each side of the deal is a party: the seller, and each bidder under its own name. The room is indexed the way disclosure is always indexed, questions go to the seller in private, and every download is recorded against the party that took it.
Stannard Holdings sale
Indexed · what is provided and what is still out
39 of 50 provided11 outstanding
Financial
14 asked for · 11 provided
Contracts
9 asked for · 4 provided
Corporate
12 asked for · all provided
The index, ready to go
The Data room (business sale) template opens with the sections a buyer’s solicitor will ask for. Add to them, reorder them, or start from an empty room.
- Corporate: registers, share transfers, board minutes
- Financial: statutory accounts, management accounts, forecasts
- Tax: returns, correspondence, clearances
- Contracts: customers, suppliers, change of control
- Employees: contracts, handbook, consultation
- Property: leases, title, dilapidations
- Legal: disputes, insurance, intellectual property
- Compliance: licences, registrations, policies
Inside the room
One party per bidder
Each bidder is a party with its own people. They see the index and download the documents, read only. They never see who else is in the room, or how many.
Questions stay in their lane
A bidder asks from the room and it becomes a request visible to that bidder, the seller contact and your team. When an answer should go to everyone, you share it to the whole room in one action.
Terms of access, before anything
A room can carry terms. Until a bidder accepts them the portal shows the terms and nothing else, and every document answers a refusal. Each acceptance is a dated row against the party.
The access log answers the awkward question
Who looked at the pension deficit, and when. Every download, question and upload is one line with the party against it, in order. It exports as CSV for the disclosure letter or the file.
- Downloads recorded by party and by document
- Questions and answers in the same log
- Terms acceptances dated, per party
- The whole room downloads as one ZIP
Access log
By party · downloads, questions and first sight
Meridian Partners
31 downloads · 4 questions · last in yesterday
Calder Equity
12 downloads · 1 question · last in on Friday
Hale & Prentice
58 downloads · advisers to the seller
Read only means read only
Documents in the room are shared to the whole room and cannot be edited by a bidder. What a bidder can do is ask, and their question lands as a request with a thread, an owner and a due date, like everything else in Docsroom.
Stannard Holdings
Meridian Partners
Financial · 11 of 14
Contracts · 4 of 9
Employees
Not provided
How a room usually runs
Nothing here is unusual. The point is that it happens in one place, with a record.
Data room (business sale)
One party per bidder
1Room built
Seller uploads against the index
Note: You see what is still missing
2Bidders admitted
Each gets a party and a link
Note: Terms must be accepted first
3Diligence runs
Questions arrive as requests
Note: Private to the asking party
4An answer applies to all
The answer goes to the whole room
Note: In one action, logged
5A bidder drops out
The party’s links are withdrawn
Note: Access stops at once
6Completion
The room downloads as one ZIP
Note: And the access log as CSV
What a room does not do
Docsroom holds the documents, the index, the questions and the log of who took what. It does not decide what belongs in the room, does not redact anything for you, and offers no view on what should or should not be disclosed. Those are the deal team’s calls. This is the room they are made in.
Open a room for your next deal.
Free for 14 days, no card.