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WINDOW-SHOP CLAUSE [1 record]

Record 1 2009-07-06

English

Subject field(s)
  • Commercial Law
  • Amalgamation and Partnerships (Finance)
CONT

[W]indow shop provision prevent a target from actively soliciting bids from third parties after the signing of a definitive agreement. However, a window shop provision contains a fiduciary out that allows the target's board to negotiate with, provide due diligence material to, and, if appropriate, ultimately accept a bid from a third party that makes an unsolicited offer if taking such action is necessary to avoid a breach of the board's fiduciary duties.

French

Domaine(s)
  • Droit commercial
  • Fusion, absorption et coparticipation (Finances)
DEF

Clause interdisant à la société cible de solliciter, d'étudier ou d'accepter des offres concurrentes à moins que le devoir fiducial des administrateurs ne l'exige.

OBS

La clause de lèche-vitrine est une clause interdisant la sollicitation assortie d'une clause de retrait par devoir fiducial.

Spanish

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