Lockup

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Lockup

A place of detention in a police station, court or other facility used for persons awaiting trial. In corporate law, a slang term that refers to the setting aside of Securities for purchase by friendly interests in order to defeat or make more difficult a takeover attempt. A lockup option is a takeover defensive measure permitting a friendly suitor to purchase divisions of a corporation for a set price when any person or group acquires a certain percentage of the corporation's shares. To be legal, such agreement must advance or stimulate the bidding process, to best serve the interests of the shareholders through encouraged competition.

See: penitentiary
References in periodicals archive ?
Thursday's actions add to the slew of other recent arrests of state workers at the Gainesville lockup.
because lockups create an opportunity cost associated with increasing
According to Business Insider, Pincus argued that the suit should be waived because he and the Zynga board agreed only to sell 20 percent of their stock holdings, putting the remainder on a lockup agreement that lasted into the summer of 2012.
Thus, the association between weak long run performance of IPOs and senior insider sales following IPO lockups cannot be fully explained by market efficiency.
The company shortened the lockup period for certain employees, so 234 million shares will now be available for sale on October 29, instead of November 14.
After promising nearby residents that only misdemeanor cases would be handled at the courthouse, court officials decided in 2003 to transfer felony trials to other courthouses, allowing the lockup facility to be closed and saving the cash-strapped court system $1 million annually.
To this end, Danto has developed a syllabus "for training officers assigned to police lockups, to jail and to juvenile detention facilities.
Reform advocates have since called for the closure of the state's five remaining youth lockups.
The previous literature has focused on initial public offerings (IPOs) to examine the information roles of share lockups (Ofek and Richardson, 2000; Field and Hanka, 2001; Bray and Gompers, 2003; Zheng and Stangeland, 2007), but little work has been done in other settings partially due to lack of data.
The Hamilton (Ontario) Spectator, Ontario purchased two ProVision Alliance AC benders, two plate stackers and 336 Wide-gap/No-tool press registration lockups.
Through the program, four Southern California families were able to visit children in the CYA lockup, the only one in the state that houses female juvenile offenders.
Several Texas state senators on Tuesday expressed support for the closure of at least some of the state's remaining youth lockups.