A business acquisition contract refers to the category or type of contracts that two or more business entities enter into where a business of one party is being acquired by the other party(s). The acquisition implies acquiring the business by either buying majority shares or buying the property. For convenience we are providing a sample of a business acquisition contract.
Sample Business Acquisition Contract
Date of signing: 25th May 2012.
This contract has been prepared to be entered between Luke & Grant Developers Pvt. Ltd. and Henry Forbes Constructions as on the date mentioned above.
The contract states that Mr. Luke Wilson, on behalf of Luke & Grant Developers Pvt. Ltd., has purchased a construction business/ firm by the name, Henry Forbes Construction, from Mr. Henry Forbes as on the date of signing.
Details of the Buyer:
Business Name: Luke & Grant Developers Pvt. Ltd.
Authorized Personnel: Mr. Luke Wilson
Position: C.E.O. / Co- founder
Contact No.: 576-014-235
Details of the Business Sold/ Acquired:
Business Name: Henry Forbes Construction
Authorized Personnel: Mr. Henry Forbes
Contact No.: 444-146-902
Terms and Conditions:
- Post the acquisition Luke & Grant Developers are eligible to take over the business of Henry Forbes Construction.
- Luke & Grant are not bound to keep the current name or keep all the current employees. The new owners may hire/ let go the employees as per suitability.
- Mr. Henry Forbes still holds his share of equity holdings in the firm but has no functioning rights as partner or owner.
_________________________ (Mr. Luke Wilson)
_________________________ (Mr. Henry Forbes)