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Definition:

An agreement between a company engaged in a takeover bid and a bank that the bank will not finance the bid of another acquirer.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Staggered board of directors

Occurs when a portion of directors are elected periodically, instead of all at once. Board terms are often staggered in order to thwart unfriendly takeover attempts, since potential acquirers would... Read More

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