M&A Vocabulary em Inglês: Fusões, Aquisições e Due Diligence
Term sheets, LOI, sinergias e integração - a linguagem de transações corporativas.
Transações de M&A exigem precisão terminológica. Um termo mal utilizado pode causar ambiguidade contratual ou demonstrar inexperiência. Este é o vocabulário essencial para participar de discussões de fusões e aquisições.
Vocabulário Essencial
Comparativo: como um iniciante diria vs. como um executivo nativo diria
- Due Diligence
Comprehensive investigation of a business prior to signing a contract or acquisition.
❌ Básico"We're checking all the company's information before buying."
✅ Executivo"Legal due diligence revealed two pending litigations that impact our valuation model."
Quando usar: Fase de investigação pré-aquisição.
- Letter of Intent (LOI)
A document outlining the preliminary commitment between parties before a definitive agreement.
❌ Básico"A letter saying we want to buy the company."
✅ Executivo"We've signed a non-binding LOI with an exclusivity period of 60 days."
Quando usar: Estágio inicial de negociações.
- Term Sheet
A non-binding agreement outlining the basic terms of an investment or acquisition.
❌ Básico"A document with the main deal points."
✅ Executivo"The term sheet proposes $50M valuation with a 20% earnout tied to Year 2 EBITDA."
Quando usar: Negociações de termos principais.
- Synergies
The expected cost savings or revenue increases from combining two companies.
❌ Básico"The benefits of putting the two companies together."
✅ Executivo"We've identified $15M in cost synergies through headcount optimization and vendor consolidation."
Quando usar: Business case de aquisição.
- Integration Planning
The process of combining operations, systems, and cultures after a merger.
❌ Básico"Planning how to combine the two companies."
✅ Executivo"Integration planning must begin during due diligence to realize synergies by Day 1."
Quando usar: Fase pós-closing.
- Earnout
A portion of the purchase price contingent on achieving future performance targets.
❌ Básico"Extra payment if the company performs well after the sale."
✅ Executivo"The earnout structure bridges the valuation gap: $30M upfront plus $10M earnout over 24 months."
Quando usar: Estruturação de deal.
Erros Comuns a Evitar
"We're buying the company."
"We're in exclusive negotiations following LOI execution. Due diligence is underway."
"The companies will work better together."
"Our synergy model projects $15M annual savings through shared services and procurement leverage."
"The deal is done."
"We've reached definitive agreement. Closing is subject to regulatory approval and customary conditions."
Phraseology Tips
- Use 'target' for the company being acquired
- Say 'strategic rationale' when explaining why the deal makes sense
- Frame integration as 'value capture': 'Integration unlocks the synergy value'
- Be precise about binding vs non-binding: 'This LOI is non-binding except for exclusivity'
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