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In addition to creating a framework for any potential deal with the prospective buyer, an LOI is a catalyzing event in most deals. Receiving an LOI, even one that has unacceptable terms, gives the investment banker the opportunity to reach out to each of the target buyers and accelerate the "go/no-go" decision. In a normal process, the investment banker strives to keep the potential buyers on a common time frame. However, the first LOI drives the timing of the process and, furthermore, provides a solid framework for more specific price negotiations.