Lockup

(redirected from lockups)
Also found in: Dictionary, Thesaurus, Encyclopedia.

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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Just a month ago, 30-year-old Zeeshan, arrested over charges of sexual assault, was found hanged in the police lockup of Akbari Gate.
In November, an independent investigator on a routine check of the Evins lockup reported that four boys at the lockup refused to return to their dorms because they said they had to fight all the time or pay others for protection, according to agency records obtained by The Texas Tribune.
According to Ayres's model, lockups in particular reduce the
He adds there are short-term lockup period funds, as short as one year, noting the lockup time depends on the fund's strategy.
This move, the court filings allege, allowed Pincus to sell $192 million worth of stock in April 2012, during the company's second offering and at a price roughly double what it was when the lockup agreements ended.
The lockups are crewed by volunteers from the Campaign for Nuclear Disarmament, including about 50 Welsh volunteers.
Brav and Gompers (2003) propose and test three potential explanations for the existence of IPO lockups. First, a lookup may serve to signal the high quality of a firm in order to overcome adverse selection existing in the primary capital market.
Like many initial public offerings, Facebook's May 18 debut included a "lockup" agreement that requires some shareholders not sell their stocks for a certain period, CNN reports.
The lockup was supposed to expire on Monday for 179 million employee Facebook shares, but shareholders could not sell until Wednesday because U.S.
Facebook's shares have been marking record lows since the first share sale lockup for insiders expired in August amid concern that businesses are spending less to advertise on the world's largest social-networking website.
It's the first in a wave of lockup expirations in the coming months that will quadruple the number of shares that can be traded.
He said lockups' condition would be improved by providing blankets in winter and fans in summer to the prisoners, while the floors of lockups would be tiled for providing the accused a proper place to stay during detention period.