Mergers & Acquisitions
Oct. 5, 2013
When initial M&A negotiations break down
Problems arise when initial negotiations break down, and one of the parties attempts to enforce the terms of the preliminary document. By Nancy Yamaguchi
Almost every deal involving the sale or purchase of a business starts out with a term sheet, letter of intent, memorandum of understanding or other preliminary document, which summarizes the initial terms of a potential M&A transaction. This preliminary document is usually written to be legally nonbinding and merely intended to assist the parties in moving forward with negotiations towards a definitive and final agreement. Problems arise wh...
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