Mergers & Acquisitions...
Merfeld & Schine, Inc.
Selling Your Company, Step 12:
Mutually Agreed Upon, Binding Letter of Intent
At the conclusion of a successful negotiation, the buyer and seller will come to a mutually acceptable agreement, and the letter of intent will be modified to reflect that agreement. That is, they will agree on the terms of the business acquisition deal in plain English. Once this is done, the plain English deal will be turned over to the lawyers to translate it into legalese.
We will take the business off the market as soon as a plain English deal is agreed to by both parties. No further offers will be solicited or accepted unless the deal is cancelled.
The modified LOI, although it does have significant legal implications, is not the final legal document. The defining document for the business sale is the Purchase and Sale Agreement (P&S).
Next step: Due Diligence
Back to Summary of the Selling Process page
We focus on (but do not entirely limit to) companies with sales in the $1MM to $20MM range located in the New England States: MA, CT, NH, RI, VT, ME.
If any of our M&A services fit your needs, please feel free to contact us for a free consultation without obligations or sales pressure. Fill out this simple form or call us (401-751-3320)
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