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 ?
6000 shares of Citizens common stock for each of their shares, plus cash in lieu of any fractional share of Citizens common stock.
If a new employee filed an election to receive cash in lieu of making deferrals and the election was filed within a reasonable period ending before the beginning of the first month after the individual first became an employee, no deferrals for that (or any subsequent) month would be made.
The amount of cash in lieu of fractional shares will be based on the March 23, 2007 closing stock price.
Stockholders who hold their shares through a third party intermediary such as a brokerage firm will have an option to elect cash in lieu of the stock dividend.
From and after November 20, 2006, the preferred stock not previously converted will be deemed to be no longer outstanding and all rights of the holders with respect to such preferred stock will terminate, except the right to receive the whole shares of common stock issuable upon conversion and cash in lieu of any fractional shares, as described above.
Holders of record of CPOs on May 8, 2006 will be entitled to receive the CPO stock dividend or they can elect to receive cash in lieu of the stock dividend.
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 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.