Abstract

http://ssrn.com/abstract=2310100
 


 



Lock-Up Creep


Steven Davidoff Solomon


University of California, Berkeley - School of Law; University of California, Berkeley - Berkeley Center for Law, Business and the Economy

Christina M. Sautter


Louisiana State University Paul M. Hebert Law Center

August 14, 2013

The Journal of Corporation Law, Vol. 38, No. 4, 2013

Abstract:     
In recent years, the number and type of merger agreement lock-ups have significantly increased, a phenomenon we term "lock-up creep". Not only have new lock-ups arisen, but the terms of these lock-ups have become ever-more negotiated, intricate and varied. This article analyzes the causes of lock-up creep and assesses lock-up creep’s effect on the takeover market. The article was prepared for and presented at The Journal of Corporation Law symposium: Ten Years After Omnicare: The Evolving Market for Deal Protection Devices held at The University of Iowa College of Law.

Number of Pages in PDF File: 51

Keywords: takeovers, Delaware, merger agreements, lock-ups, deal protection devices, termination fees

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Date posted: August 14, 2013 ; Last revised: April 16, 2014

Suggested Citation

Davidoff Solomon, Steven and Sautter, Christina M., Lock-Up Creep (August 14, 2013). The Journal of Corporation Law, Vol. 38, No. 4, 2013. Available at SSRN: http://ssrn.com/abstract=2310100

Contact Information

Steven M. Solomon (Contact Author)
University of California, Berkeley - School of Law ( email )
215 Boalt Hall
Berkeley, CA 94720-7200
United States
University of California, Berkeley - Berkeley Center for Law, Business and the Economy ( email )
Berkeley, CA 94720-7200
Christina M. Sautter
Louisiana State University Paul M. Hebert Law Center ( email )
330 Law Center Building
Baton Rouge, LA 70803
United States
225-578-1306 (Phone)
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