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The value of the term sheet shouldn’t be overlooked.  From buyers and sellers to advisors and intermediaries, the term sheet is often used before the creation of an actual purchase or sale agreement.  That stated, it is important that the term sheet is actually explained in detail.  Let’s take a closer look at its importance. What is a Term Sheet? Even though term sheets are quite important, they are rarely mentioned in books about the M&A process.  In the book,

Having a letter of intent signed by both the buyer and the seller can be a very good feeling.  Everything can seem as though it is moving along just fine, but the due diligence process must still be completed.  It is during due diligence that a seller decides whether he or she is going to finalize the deal. Much depends on what is discovered during this important process, so remember the deal isn’t done until it is truly finalized. In

Every merger begins with high hopes. No one goes into one of these deals thinking it’s going to tank. What’s often behind a failed deal isn’t bad numbers or intentions; it’s a cultural mismatch. Shared values are key to a successful merger. Most executives pay more attention to synergies and expenses than culture, which means that employees and stakeholders are often left working out cultural issues—and working them out poorly. Here’s what you need to know about how cultural fit