As more businesses focus on how they could benefit from diversity, equity and inclusion, lawyers say a related trend is on the horizon: businesses looking for—or even demanding—the same practices at the companies they acquire or merge with.

“There’s data that proves diverse companies with diverse boards [have a higher] bottom line,” said Robert Johnson, chief diversity officer with the law firm Gibbons. “It’s logical to think … diversity, equity and inclusion could be major drivers of deal value.”

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