Cash In Lieu

Also found in: Acronyms.

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.