1. 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

2. 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