vendor placing arrangement

vendor placing arrangement
An arrangement where US shareholders agree to appoint an independent agent to receive securities offered in a takeover offer and sell them immediately into an existing non-US market, returning the proceeds to the US shareholders. The Securities and Exchange Commission (SEC) must approve these arrangements in advance.
For further information, see the SEC website.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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