Houston Natural Resources Corp (HNRC)

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Definition of 'Letter of Intent - LOI'

1. An agreement that describes in detail a corporation's intention to execute a corporate action. The letter of intent is created by the corporation with its management and legal council, among others, and outlines the details of the action.

Investopedia explains 'Letter of Intent - LOI'

1. Letters of intent are used during the merger and acquisitions process to outlines a firm's plan to buy/take over another company. For example, the letter of intent will disclose the specific terms of the transaction (whether it is a cash or stock deal).