Heads of terms: UK public takeover

Resource type: Standard document

Status: Maintained

Jurisdiction: United Kingdom

Heads of terms used to outline the principal terms of a potential recommended offer for a UK public company. The document may also be referred to as either a "letter of intent", "heads of agreement", letter of potential interest", "memorandum of understanding" or a "term sheet". This standard document is based on the assumption that the Target has only one class of share capital, a separate confidentiality agreement has already been signed and that any agreements relating to standstills and break fees (if permitted) are either incorporated in the confidentiality agreement or are contained in separate documents.

PLC Corporate
Drafting note: Heads of terms: UK public takeover: drafting note

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  • Resource ID: 1-107-4532
  • Products:  PLC UK Corporate, PLC UK Corporate Firmstyle, PLC UK Law Department
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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Drafting note
Glossary
  • Heads of agreement Heads of agreement (http://crossborder.practicallaw.com/topic2-107-6682)
  • Heads of terms Heads of terms (http://crossborder.practicallaw.com/topic0-107-6683)
  • Letter of intent Letter of intent (http://crossborder.practicallaw.com/topic2-107-6757)
  • Letters of potential interest Letters of potential interest (http://crossborder.practicallaw.com/topic8-107-6194)
  • Memoranda of understanding Memoranda of understanding (http://crossborder.practicallaw.com/topic9-107-6834)
  • Protocols Protocols (http://crossborder.practicallaw.com/topic6-107-7076)
  • Term sheet Term sheet (http://crossborder.practicallaw.com/topic6-107-7383)
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