BUS 082 Lecture 21: Bus 82 (Introduction to Business) - Lec 21

• School: College of The Sequoias
• Department: Business (BUS)
• Course: BUS 082
• Professor: Porterfield

Document Summary

Marketing materials often represent the first formal introduction of the target to prospective buyers. Involves normalizing the historical financials (e. g. , for acquisitions, divestitures, and other one-time and/or extraordinary items) and crafting an accompanying md&a. A confidentiality agreement (ca) is a legally binding contract between the target and each prospective buyer that governs the sharing of confidential company information. Drafted by the target"s counsel and distributed to prospective buyers along with the teaser, with the understanding that the receipt of more detailed information is conditioned on execution of the ca. The first round begins with the contacting of prospective buyers, which marks the formal launch of the auction process. Typically takes the form of a scripted phone call to each prospective buyer by a senior member of the sell-side advisory team, followed by the delivery of the teaser and ca. Sell-side advisor generally keeps a detailed record of all interactions with prospective buyers, called a contact log.