Auction sale timetable—private M&A

Sale of [insert name of company or business]: Timetable

Timing

Action

Responsibility

Seller preparations

IM – insert number days

Appoint seller's team of corporate finance and professional advisers

Seller

from IM – insert number days to IM – insert number days

Conduct vendor due diligence

Seller/Seller solicitors

IM – insert number days

Identify and approach potential bidders

Seller/Seller corporate finance advisers

from IM – insert number days to IM – insert number days

Prepare information memorandum and marketing presentation

Seller/Seller corporate finance advisers

from IM – insert number days to IM – insert number days

Conduct verification exercise concerning information memorandum and marketing presentation (if deemed necessary)

Seller/Seller solicitors

IM – insert number days

Signing of confidentiality agreement by potential bidders

Seller/Seller solicitors

Potential bidders/Potential bidders' solicitors

First round

Date of circulation of information memorandum (IM)

Circulate first round auction process letter and information memorandum to all potential bidders

Seller/Seller corporate finance advisers

IM + insert number days