Letter of intent—takeover or scheme of arrangement
Published by a LexisNexis Corporate expert
PrecedentsLetter of intent—takeover or scheme of arrangement
Published by a LexisNexis Corporate expert
Precedents
To: The directors [insert offeror/offeree's name]
[Insert address]
[Insert date]
Dear Directors,
Proposed acquisition of [name of offeree] ([Offeree]) by [name of offeror] ([Offeror])
We, [insert name of shareholder(s)], refer to the [proposed] acquisition (the Acquisition) [to be] announced pursuant to Rule 2.7 of the City Code on Takeovers and Mergers (the Code) by [Offeror] on [or about] [insert date] of all the issued [and to be issued] [ordinary] share capital of [Offeree], which is[ currently] intended to be implemented by means of a [contractual offer within the meaning of section 974 of the Companies Act 2006 (the Offer) OR scheme of arrangement under Part 26 of the Companies
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Letter of intent definition
What does Letter of intent mean?
Letters of intent are preliminary agreements that precede substantive contract negotiations. They are also referred to as: heads of agreement or heads of terms, memorandum of understanding; pre-contract protocol or term sheet. They provide an outline of the commercial deal agreed between the proposed parties to a contract rather than detailing the finer points.
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