Document background
The Merger And Acquisition Term Sheet is a crucial preliminary document used in Belgian corporate transactions to establish the framework for a potential merger or acquisition. It serves as a roadmap for the transaction, documenting key commercial terms, conditions, and timelines while adhering to Belgian corporate law and relevant EU regulations. This document is typically prepared after initial discussions but before detailed due diligence and definitive agreements, capturing the parties' preliminary understanding while maintaining flexibility for negotiation. While mostly non-binding, it includes certain enforceable provisions such as confidentiality and exclusivity clauses. The term sheet's structure reflects Belgian market practice and regulatory requirements, particularly those under the Belgian Code of Companies and Associations (BCCA) and competition laws.
