Agent skill · product strategy · anthropics
process-letter
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".
Why this skill is useful
Provides a structured template and specific content requirements for drafting M&A process letters that the AI wouldn't reliably generate on its own.
What it needs
About 2k tokens when loaded. Last updated 2026-08-04. 34,059 stars on the source repository.
What this skill does
Process Letter Workflow Step 1: Determine Letter Type Initial process letter: Sent with teaser/CIM to outline the process and IOI requirements IOI instructions: Specific requirements for first-round indications of interest Second round / final bid letter: Instructions for submitting binding offers after diligence Management meeting invitation: Logistics for in-person management presentations 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: Proposed valuation range (enterprise value) Consideration form (cash, stock, earnout, rollover) Financing sources and certainty Key due diligence requirements Indicative timeline to close Any conditions or contingencies Brief description of the buyer and strategic rationale 4. Submission Details: Where to send, deadline (date and time), format 5. Confidentiality Reminder: Reference to NDA, data room access 6. Contact Information: Banker contacts for questions 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) Step 4: Management Meeting Invitation 1. Logistics: Date, time, location (or video link), duration 2. …
How to use it
Reference it in AdaL, Claude Code, Cursor or any coding agent — nothing to install:
@skills anthropics/process-letter