cash underwritten alternative
- cash underwritten alternative
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Also known as cash underpinning. An arrangement entered into by the bidder in an offer where the consideration consists of bidder shares, under which target shareholders may elect to receive cash instead of shares, the cash being provided by the bidder's financial adviser which makes a separate offer to acquire those bidder consideration shares.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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cash underpinning agreement: synopsis — A note of the main terms of a cash underpinning arrangement (also known as a cash underwritten alternative) applying on a takeover bid. A cash underpinning arrangement (also known as a cash underwritten alternative) will be required where the… … Law dictionary
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