An offer of a stock allowing institutional investors and (occasionally) high net-worth individuals to buy a large percentage of a company's equity, usually at a price higher than the previous offer of stock. Street sweeps are fairly common in takeovers; they may also be used as antitakeover measures. A street sweep is also known as a market sweep.
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An investment strategy in which large amounts of a company's stock are quickly purchased. Street sweeps generally occur in the stock of a company involved in a takeover attempt. Also called market sweep.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.