An overview of the typical transaction process when acquiring a UK business via a share sale or purchase, including putting in place preliminary agreements, carrying out due diligence, obtaining deal consents and regulatory approvals, preparing the share purchase agreement (SPA) and other ancillary documents and dealing with completion and post-completion steps. It also highlights some key legal issues affecting share sales, including the restriction on financial promotions under FSMA and the prohibition on financial assistance under the Companies Act 2006 (CA 2006).