M&A Foundations · glossary
Another name for heads of terms — see that entry. The label is more common in US-influenced and venture practice; "letter of intent" (LOI) is a third name for the same document. Chapter 6
Explained in Chapter 6, Term Sheets and Heads of Terms, of M&A Foundations.
The main page for this term is Heads of terms, in this edition.
Roughly, the seller prepares and quietly markets the business. The parties agree outline terms on a term sheet. The buyer investigates in due diligence while the lawyers negotiate the SPA. Then the parties sign, any regulatory approvals are obtained, and the deal completes — shares and money change hands. Each stage gets its own chapter.Read Chapter 1, What M&A Actually Is →
Every chapter of M&A Foundations is free to read, including the full training share purchase agreement.
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open M&A Foundations → · All terms A–Z →