Patrick Baldwin and Rachel Jones had a problem. They wanted to talk liabilities — specifically, which liabilities would transfer to their private-equity client should they move ahead with a $50 million purchase of a folding trailer business. However, their counterparts in this negotiation weren’t interested in discussing liabilities or other details just yet. They wanted to get a feel for how serious the buyer was about the purchase, particularly since the sellers were in tight financial straits.
“We need a letter of intent” before getting into the minutiae of the deal,” said April Finn, representing the seller with Jennifer Langley. “We just want to make sure this isn’t a wild goose chase.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
