Stand Apart with a Kickstart: Preliminary Agreements for Private M&A Transactions

At the outset of any private M&A deal, the parties will need to put the proposed transaction to paper. A letter of intent, also called a memorandum of understanding or a "heads of agreement," is a negotiated term sheet-like document that sets out the important terms of a proposed transaction. Letters of intent are useful to confirm that the parties have a common understanding about key transaction terms before they commit resources to draft and negotiate definitive agreements. Navigate key terms to include, exclusivity, and binding provisions with this practice note.

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