Series 79: Bidding Procedures Letter

Taken from our FINRA Investment Banking Exam

Definition of the term Bidding Procedures Letter...

a document prepared by an investment banker affiliated with a selling company in a merger and acquisition transaction and sent to potential buyers. This letter states the deadline by which a prospective buyer must submit a non-binding indication of interest (IOI) and describes in detail the specific information a potential buyer should include in the IOI.

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