M&A Foundations · glossary
The seller's marketing document describing the business in detail — history, financials, strategy — sent to interested bidders once they have signed the NDA. In substance, the target's sales brochure. Chapter 5
Explained in Chapter 5, Preparing for a Deal, of M&A Foundations.
…The marketing materials are a one-page anonymous teaser and a fuller information memorandum (IM) describing the business to bidders. Where several credible bidders exist, that process becomes an auction: parallel bidders, staged bids and deliberately maintained competitive tension (the mechanics get their own treatment in Chapter 5). The bankers, not the lawyers, typically negotiate the headline commercial terms: price, deal structure, exclusivity.Read Chapter 2, Who’s Who on a Deal →
Every chapter of M&A Foundations is free to read, including the full training share purchase agreement.
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