Mergers and acquisitions (M&A) are governed by a combination of national and international law, depending on the companies involved. There are different types of merger, such as a legal merger, where two companies merge to form one legal entity, or a share merger, where one company buys the shares of the other. Acquisitions can take place through the purchase of shares or assets. An essential part of mergers and acquisitions is due diligence, in which the acquirer examines the financial, legal and operational situation of the target company in order to identify any risks. In addition to these procedural aspects, competition law rules also play a role, especially if the merger or acquisition results in a large concentration of market shares. In the Netherlands, the Authority for Consumers and Markets (ACM) can intervene if a merger or acquisition distorts competition in the market. Shareholders also play an important role, as their approval is often required to complete a merger or acquisition. Finally, foreign investment laws may also need to be considered in international deals. Finally, there are sector-specific laws and regulations.