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Lock-Up Option |
Also found in: Dictionary/thesaurus | 0.03 sec. |
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Lock-Up Option A stock option offered by a target company to a white knight for additional equity or for the purchase of a valuable portion of their company. Notes: An undesired third party is deterred from acquiring a major portion of the target company due to the very high value of the lockup option.
Also known as Lock-Up Defense. |
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? Mentioned in | ? References in periodicals archive | |
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Ambanc's tender offer is subject to certain contingencies, including the satisfaction of a minimum tender condition, the Cohoes stockholders not approving the proposed Hudson River merger, valid termination of the lock-up option granted to Hudson River, customary bank regulatory approvals, and the execution of a definitive merger agreement to provide for the merger of Cohoes with and into Ambanc. Ambanc's tender offer is subject to certain contingencies, including the satisfaction of a minimum tender condition, Cohoes stockholders not approving the proposed Hudson River sale, valid termination of the lock-up option granted to Hudson River, customary bank regulatory approvals, approvals by the Cohoes' Board of Directors and Cohoes stockholders necessary to remove anti-takeover obstacles, and satisfactory completion of due diligence. 25 per share, in cash, incorporates the cost of the lock-up option, which Ambanc estimates to be $1. |
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Lock-Up Option
