gold under the headquarters
- gold under the headquarters
-
USA
A target-friendly provision of a merger agreement that expands the fiduciary out clause to permit the target company's board (board of directors) to change its recommendation to its stockholders if, after the agreement is signed, it becomes aware of some event or circumstance that makes the merger not advisable. This type of provision is also commonly referred to as "gold in the backyard".
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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