This bear hug letter template is intended for use by strategic investors. For acquisition company bear hug letters, see Acquisition Company Bear Hug Letter. This template includes practical guidance and drafting notes. Approaching the Target Acquirers may approach target companies about potential acquisitions casually and privately or formally and publicly. Casual approaches may occur in discussions at the senior executive or director level in prearranged meetings or during impromptu meetings at an industry gathering or otherwise. Bear hugs are formal approaches from acquirers to targets regarding a potential acquisition in the form of a letter to the board of directors and chief executive of a target corporation. Bear hug letters may be sent privately (i.e. without the acquirer publicly announcing that a letter has been sent regarding a proposed transaction) or they may be sent publicly (i.e. with a contemporaneous (or soon thereafter) public announcement by the acquirer that a letter ...