Publications & Newsletter

Capital Insights 
Summer 2016


Best Intentions: The Letter of Intent, Seller Beware
By: Ron Stacey, Managing Director

The letter of intent is the most important document in the M&A process, particularly for the seller. See how buyer/seller negotiating leverage shifts during negotiation of the letter of intent and the commencement of buyer due diligence. Find out why letters of intent are nonbinding except for exclusivity and confidentiality. Learn how to ferret out bad faith buyers and see why it’s critically important for the seller’s investment banker to effectively manage the exclusivity period and to get as much detail as possible in the letter of intent...read more

Retained Interest in a Leveraged Recap: the Case of the Clueless Seller
By: Ron Stacey, Managing Director

Retained Interest in a Leveraged Recap: the Case of the Clueless Seller is a fictionalized case study account based on true story. Learn how to value a retained interest in a leveraged recapitalization or recap, see the various elements in play involving this acquisition structure, and learn how to avoid the critical mistakes the sellers made in this deal. See a leveraged recap in action...read more