Cash In Lieu


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Cash In Lieu (CIL)

In a typical exchange offer, "old" shares of the target company are exchanged for "new shares".
References in periodicals archive ?
42, based on the average closing price of the TD Banknorth common stock during the ten-trading day period prior to the closing date, subject to proration as provided in the merger agreement, plus cash in lieu of any fractional share interest.
Shareholders will receive cash in lieu of any fractional shares.
Shareholders entitled to fractional shares will receive cash in lieu of fractional certificates based on the average of the high and low trade prices of one whole share of Banc One's common stock on the New York Stock Exchange on the record date, Aug.
Shareholders holding 45,000 or more shares would receive one post-split share for each 45,000 shares held immediately before the transaction and cash in lieu of any fractional share resulting from the transaction at the rate of $0.
In addition, the Company announced that it will pay cash in lieu of all fractional shares that are currently (i) not held in the DRP and (ii) held in a DRP account containing only a fractional position (i.
E-Z-EM shareholders received cash in lieu of any fractional shares.
39 per share (the conversion price plus the redemption premium), a holder of Notes who converts after the record date for the interest payment will receive SanDisk common stock with a market value (plus cash in lieu of any fractional shares) greater than the amount of cash the holder would otherwise be entitled to receive upon redemption.
50 per share, a holder of the Notes who converts will receive Gilead common stock with a market value (together with cash in lieu of any fractional shares and the make-whole payment) greater than the amount of cash (including the make-whole payment) the holder would otherwise be entitled to receive upon redemption.
NYSE:PFS) ("Provident") announced today that final merger consideration of cash, shares of Provident common stock and cash in lieu of fractional shares has been distributed to former stockholders of First Sentinel Bancorp, Inc.