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process-letter

skill · 75 lines · Apache-2.0 · plugins/vertical-plugins/investment-banking/skills/process-letter/SKILL.md

The facts

Its description

Draft process letters and bid instructions for sell-side M&A processes. Covers initial indication of interest (IOI) instructions, final bid procedures, and management meeting logistics. Triggers on "process letter", "bid instructions", "IOI letter", "bid procedures", "final round letter", or "management meeting invite".

The description the agent reads to decide when to use it.

From its settingsline 3

When it starts

A banker running a sell-side M&A process asks for a letter that sets out the bidding rules — an initial process letter or IOI instructions, a final/second-round bid letter, or a management meeting invitation. The request is about the correspondence sent to prospective buyers rather than the model, deck, or valuation behind the deal.

Things a person might say (the model's guesses)

  • “Draft the IOI instructions letter for Project Atlas — we're sending it out with the teaser next week”
  • “Can you put together the final bid procedures letter for round two? Include the SPA markup request and financing commitment requirements”
  • “Write the management meeting invitation for the buyers moving to the next stage”

A model's summary of when it is used.

A model's reading

Licence

Apache-2.0, from LICENSE

The terms its author shares it under, which let it be shown here.

From the repositorylicence text

The text

Open on GitHub

Most marks come from matching words in the file, so treat them as pointers.

1---
2name: process-letter
3description: Draft process letters and bid instructions for sell-side M&A processes. Covers initial indication of interest (IOI) instructions, final bid procedures, and management meeting logistics. Triggers on "process letter", "bid instructions", "IOI letter", "bid procedures", "final round letter", or "management meeting invite".
4---
5
6# Process Letter
7

Process Letter

Raw lines 1 to 7
8## Workflow
9

Workflow

Raw lines 8 to 9
10### Step 1: Determine Letter Type
12- **Initial process letter**: Sent with teaser/CIM to outline the process and IOI requirements
13- **IOI instructions**: Specific requirements for first-round indications of interest
14- **Second round / final bid letter**: Instructions for submitting binding offers after diligence
15- **Management meeting invitation**: Logistics for in-person management presentations

Step 1: Determine Letter Type

Raw lines 10 to 16
Names a skill cim-builder :12
Names a skill dd-meeting-prep :15
17### Step 2: Initial Process Letter / IOI Instructions
19**Header:**
20- Date, deal code name
21- "Confidential"
22- Addressed to prospective buyer
24**Sections:**
261. **Introduction**: Brief overview of the opportunity and the seller's objectives
272. **Process Overview**: Timeline, key dates, expected number of rounds
283. **IOI Requirements**: What to include in the initial indication:
29 - Proposed valuation range (enterprise value)
30 - Consideration form (cash, stock, earnout, rollover)
31 - Financing sources and certainty
32 - Key due diligence requirements
33 - Indicative timeline to close
34 - Any conditions or contingencies
35 - Brief description of the buyer and strategic rationale
364. **Submission Details**: Where to send, deadline (date and time), format
375. **Confidentiality Reminder**: Reference to NDA, data room access
386. **Contact Information**: Banker contacts for questions

Step 2: Initial Process Letter / IOI Instructions

Header:

  • Date, deal code name
  • "Confidential"
  • Addressed to prospective buyer

Sections:

  1. Introduction: Brief overview of the opportunity and the seller's objectives
  2. Process Overview: Timeline, key dates, expected number of rounds
  3. IOI Requirements: What to include in the initial indication:
  4. Proposed valuation range (enterprise value)
  5. Consideration form (cash, stock, earnout, rollover)
  6. Financing sources and certainty
  7. Key due diligence requirements
  8. Indicative timeline to close
  9. Any conditions or contingencies
  10. Brief description of the buyer and strategic rationale
  11. Submission Details: Where to send, deadline (date and time), format
  12. Confidentiality Reminder: Reference to NDA, data room access
  13. Contact Information: Banker contacts for questions
Raw lines 17 to 39
40### Step 3: Final Bid / Second Round Letter
42Additional requirements beyond IOI:
441. **Markup of purchase agreement**: Provide the draft SPA/APA and request markup
452. **Detailed financing commitments**: Committed financing letters required
463. **Remaining diligence items**: Specify what confirmatory diligence is expected
474. **Exclusivity terms**: Duration and conditions of any exclusivity period
485. **Regulatory analysis**: Antitrust filing requirements and timeline
496. **Key personnel terms**: Employment agreements, compensation, rollover equity
507. **Binding vs. non-binding**: Clarify what is binding at this stage
518. **Evaluation criteria**: How bids will be evaluated (price, certainty, speed, fit)

Step 3: Final Bid / Second Round Letter

Additional requirements beyond IOI:

  1. Markup of purchase agreement: Provide the draft SPA/APA and request markup
  2. Detailed financing commitments: Committed financing letters required
  3. Remaining diligence items: Specify what confirmatory diligence is expected
  4. Exclusivity terms: Duration and conditions of any exclusivity period
  5. Regulatory analysis: Antitrust filing requirements and timeline
  6. Key personnel terms: Employment agreements, compensation, rollover equity
  7. Binding vs. non-binding: Clarify what is binding at this stage
  8. Evaluation criteria: How bids will be evaluated (price, certainty, speed, fit)
Raw lines 40 to 52
53### Step 4: Management Meeting Invitation
551. **Logistics**: Date, time, location (or video link), duration
562. **Attendees**: Who from the company will present, who from the buyer should attend
573. **Agenda**: Typical management presentation agenda (overview, financials, operations, growth, Q&A)
584. **Ground rules**: No recording, confidentiality, questions format
595. **Materials**: What will be distributed (presentation deck, data room access)
606. **Follow-up**: Process for submitting additional questions after the meeting

Step 4: Management Meeting Invitation

  1. Logistics: Date, time, location (or video link), duration
  2. Attendees: Who from the company will present, who from the buyer should attend
  3. Agenda: Typical management presentation agenda (overview, financials, operations, growth, Q&A)
  4. Ground rules: No recording, confidentiality, questions format
  5. Materials: What will be distributed (presentation deck, data room access)
  6. Follow-up: Process for submitting additional questions after the meeting
Raw lines 53 to 61
62### Step 5: Output
64- Word document (.docx) with professional letter formatting
65- Firm letterhead placeholder
66- Track changes version for client review

Step 5: Output

  • Word document (.docx) with professional letter formatting
  • Firm letterhead placeholder
  • Track changes version for client review
Raw lines 62 to 67
68## Important Notes
70- Process letters set the tone for the entire deal — be clear, professional, and organized
71- Deadlines should be firm but reasonable — typically 2-3 weeks for IOIs, 3-4 weeks for final bids
72- Always include the evaluation criteria — buyers want to know how they'll be judged
73- Coordinate with legal on any representations or commitments in the letter
74- Client should review and approve before sending — they may want to adjust tone or terms
75- Keep a log of who received each letter and when — this becomes the process tracker

Important Notes

  • Process letters set the tone for the entire deal — be clear, professional, and organized
  • Deadlines should be firm but reasonable — typically 2-3 weeks for IOIs, 3-4 weeks for final bids
  • Always include the evaluation criteria — buyers want to know how they'll be judged
  • Coordinate with legal on any representations or commitments in the letter
  • Client should review and approve before sending — they may want to adjust tone or terms
  • Keep a log of who received each letter and when — this becomes the process tracker
Raw lines 68 to 75

From anthropics/financial-services at 6056506, 2026-10-28. Skills read by DeepSeek V4.1 Flash on 2026-11-04. Summary and techniques by Claude Opus 5.5 on 2026-11-06.