1. Confidentiality requirements: M&A transactions involve the company's trade secrets and sensitive information, including financial data, business plans and trade secrets. In order to protect the confidentiality of the transaction, the parties concerned will require confidentiality during and after the transaction.
2. Professional knowledge and practical limitations: M&A is a complex field, which requires a deep understanding of finance, law, business and strategy. Successful M&A transactions require practical experience and professional skills. Academic papers pay more attention to theoretical analysis and research, while M&A transactions pay more attention to practical operation and business decision-making. Writing M&A papers will be limited by professional knowledge and practical experience.
3. Trade secrets and competitive sensitivity: M&A transactions often involve the company's trade secrets and competitive sensitive information, including business plans, market strategies, competitor information, etc. Writing a paper in public will expose these sensitive information and adversely affect the company's commercial interests and competitive position.