The LOI (Letter of Intent) is the non-legally binding contract that appears when the buyer and seller are becoming more serious on closing a deal. It is important to include all necessary aspects of the M&A deal in this document to create a smooth process.

Informing employees that you are selling your company too early during the merger and acquisition process can induce panic, rumors, and sometimes even termination. Which is why it is important to save the spreading of this information for the perfect time: after the sell is finalized.