April 9 Resolve final, high-level deal points with Davies & his advisors April 11 Brief NY (and potentially Tokyo), prior to LOI distribution April 14 Send LOI April 18 Complete LOI negotiations, execute; 3 month exclusivity commences Mid June Substantive diligence complete; contract near-completion; GEC approval End June Close July 18 Exclusivity ends
Preliminary Deal Timing 12/20 Complete preliminary deal reviews with SCA and within SPE 12/22 Submit LOI 12/27 Complete negotiation of LOI Exclusivity commences* Outside counsel retained, begins formal legal due diligence and contract drafting 1/26 Formal diligence complete 1/31 Contract negotiations substantially complete 2/5 Investment committee review 2/7 GEC review and approval 2/13 Sign contract 2/15 Close acquisition 2/16 Exclusivity ends* * Targeted exclusivity period; subject to negotiation