Do you have questions about the legal aspects of M&A? Ensure you’re prepared when it comes to the legal aspects of the deal. Join me for Contemporary Legal Issues in M&A next Thursday, October 17. This webinar will cover: The typical timeline for the M&A process Principles and purpose of a Letter of Intent and Term […]

Read More

Yesterday, Blackberry announced it had signed an LOI with a group led by Fairfax Financial, an insurance investment company from Toronto, Canada. Under the terms of the LOI, BlackBerry shareholders would get $9 a share in cash, making the deal worth about $4.7 billion. On Friday, BlackBerry reported $950 million and $995 million in operation losses […]

Read More

I typically advise my clients to have a binding no-shop in the Letter of Intent. This will ensure that the seller cannot try to find a better deal somewhere else, once the LOI is signed. Sellers may insist on including a go-shop clause, which provides a certain period of time (usually around 50 days) to […]

Read More

by John Dearing, Capstone Managing Director I recently read an article that listed some standard items, such as type of transaction, employment, transaction contingencies and conditions, to include in a LOI. While I don’t disagree with this “standard” list, I would prefer that the LOI address the strategic intent of the two parties. The LOI […]

Read More

About 70% of completed acquisitions fail, and even more attempts at M&A fail to reach a deal. Part of the challenge is the mix of buyers and sellers who envision dissimilar outcomes. In the pursuit of a deal the two sides have different goals and different perspectives. As in a house sale, buyer and seller […]

Read More

The Letter of Intent is more than a document in the acquisition process—it’s a milestone. The LOI serves as an important legal document, but it also brings a new level of commitment and resolve to the deal. I would caution against leaving the LOI to the “experts”. Although you are deep into the acquisition process […]

Read More

Join me for a webinar this Wednesday, November 28, on one of the most challenging, yet exciting parts of any deal: the journey from LOI to Close. In this webinar you will learn how to: 1. Explain the structure of an LOI and how to make it beneficial to your situation 2. Describe how to mange the […]

Read More

Two separate clients asked me for a Letter of Intent (LOI) sample within 48 hours.  Other typical questions include:  “What should an LOI contain (or not include)?” and “Why use an Memorandum of Understanding or a Term Sheet versus an LOI?” Capstone looks at an LOI (and all of its derivatives) as a “marketing” document.  […]

Read More

M&A: From LOI to Close CPE Credit Awarded Thursday, March 11, 2010; 1:00 PM ET David Braun is hosting a webinar with Capstone Senior Vice President Wes Teague. Building on the success of our last webinar on Contemporary Legal Issues in M&A, Capstone is presenting a new program that will lead you through one of […]

Read More