What should we expect, look out for during written exercises on M&A? What are key issues to flag and more minor details? Any tips on answering these questions?
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TCLA Vacation Scheme Applications Discussion Thread 2025-26
- Thread starter Ram Sabaratnam
- Start date
Hi everyone, is the Milbank online test automatic? It says I’ve been shortlisted. Also does anyone have any insights or revision tips to do well in the online assessments? Thank you 
hi, when did you apply and hear back for the TI? also is it for the ldn office. I haven’t heard anything for a while so assuming a PFO lol
Hey! For M&A written exercises I've found the following to work, I'll answer your questions in order:
1. Usually written exercises come in the form of a short case study where you're acting like a junior on an M&A deal. Most of the time, you'll be asked to read some kind of bundle (usually includes emails, heads of terms, extracts from contracts) and flag issues. Here, they are usually testing whether you can spot risks and explain things in an easy and sensible way, rather than if you know every law in detail. Expect a mix of: commercial context (why this deal is happening), legal red flags AND time pressure (they usually want to see how you work under pressure so will give you large amount of info, don't let this stress you out).
2. I'd say the key issues to flag usually include a mix of:
- why the buyer is acquiring the business (is it growth, is it strategy, etc.)
- what could come in the way of the deal (regulatory approval, competition issues, financing)
- major risks that are found in due diligence (litigation, key contracts, risk of insolvency)
- anything that can affect the completion
more minor issues usually include smaller contractual gaps, issues that are easily fixable but still worth noting (like if certain consent is needed, etc.)
3. tips on answering: I've found that no matter how good you are at answering the question itself, its your structure and clarity that will ensure you do well. I'd also say tie everything back to the facts given don't try to make up any info. If you're unsure about something in the case study, flag it as something you'd ask the client to investigate further. ALSO, brush on your commercial awareness and read the news beforehand, this really helps with bringing everything together.
All in all, I'd say show your thinking logically and commercially. Good luck!
One of Covington's questions is: What aspects of Covington’s work, culture or approach stood out to you in your research, and why do they appeal to you personally? How do you see these aligning with the kind of solicitor you hope to become? (300). I'm not sure what sort of things to look for, or even how to discuss, their approach. What typical things would define a firm's approach, or what sort of thing are you expected to recognise?
Eversheds PFO. After that disaster of a test I’m not surprised 
Hey! Yep for London
Did my WG on 24/11 and receive TI invite on 12/12. Fingers crossed and good luck!!
ohh wow i applied on the deadline! there goes my chances aha. good luck!
They will probably have more ACs, so don't lose hope!
Yes, you're totally right. So many schemes, getting them mixed up.As far as I know they onle have a summer scheme
This tells me they've filled their spots lol
Just got the invite myself! Mayer Brown Grad Rec said it would be four questions, of which two have unlimited prep time and two have limited prep time, they all have two mins recording time. I think there was something about the order of these too but I can't quite remember. I was also told to expect the standard motivational questions, and the top tip was to not rush through the answer while the clock ticks down. They find it's almost never the content of the answer that trips people up at this stage, but the overall presentation insteadSigh Mayer Brown Automatic Test invitewould anyone have any insights into the VI please? Same with Weil tbh
quick question how are people's links WG scores looking? I have got the best score I have ever got with them but i got fairly mid in the evaluating arguments section whereas i normally perform the highest in that section. for context the first time i ever took WG i got 1 percentile LMAO and i got 80 on my most recent.
Currently on hold at 70% which means nothing tbh just patiently waiting
Currently on hold at 70% which means nothing tbh just patiently waiting
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