TERMIUM Plus®

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HARD LOCK-UP AGREEMENT [2 records]

Record 1 2010-10-26

English

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

In the jargon of the industry, lock-up agreements can be "soft" or "hard" … In a soft lock-up agreement, the significant shareholder agrees to tender its shares into the bid, but reserves the right to tender its shares into a higher-priced bid should one come along during the time the original bid is in play. In a hard lock-up agreement, the shareholder commits to tender its shares into the bid no matter what.

French

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

Convention aux termes de laquelle l'actionnaire de la société cible s'engage irrévocablement envers l'acquéreur éventuel à déposer ses actions en réponse à l'offre publique d'achat.

CONT

La convention de dépôt irrévocable empêche l'actionnaire de déposer ses actions dans une offre supérieure. Généralement, l'entente irrévocable est accompagnée d'une clause obligeant l'acquéreur à partager avec l'actionnaire le profit effectué lors de la revente du bloc d'actions sur une période déterminée.

Spanish

Save record 1

Record 2 2010-06-17

English

Subject field(s)
  • Commercial Law
  • Financial and Budgetary Management
  • Stock Exchange
  • Investment
CONT

In the jargon of the industry, lock-up agreements can be "soft" or "hard". In a soft lock-up agreement, the significant shareholder agrees to tender its shares into the bid, but reserves the right to tender its shares into a higher-priced bid should one come along during the time the original bid is in play. In a hard lock-up agreement, the shareholder commits to tender its shares into the bid no matter what.

CONT

Lock-up arrangements are agreements between certain shareholders to sell their shares to a potential acquiring company before a formal offer is made to other shareholders.

French

Domaine(s)
  • Droit commercial
  • Gestion budgétaire et financière
  • Bourse
  • Investissements et placements
DEF

Convention par laquelle certains actionnaires s'engagent à vendre leurs actions à l'initiateur d'une offre publique d'achat avant que l'offre ne soit communiquée aux autres actionnaires.

Spanish

Save record 2

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