This document is a standstill agreement for a firm that considering merger with another firm. It assures that the status quo remains while the partners pursue various alternatives.
Pennsylvania Standstill Agreements
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State:
Multi-State
Control #:
US-L0804
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Word;
PDF;
Rich Text
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FAQ
A standstill agreement is a contract that contains provisions that govern how a bidder of a company can purchase, dispose of, or vote stock of the target company. A standstill agreement can effectively stall or stop the process of a hostile takeover if the parties cannot negotiate a friendly deal.
An agreement in which a hostile bidder agrees to limit its holdings in a target company. A standstill agreement stops the takeover bid from progressing for a period of time.
The standstill period typically commences when the subordinated lender notifies the senior lender in writing of a default on the subordinated obligation and its intent to exercise remedies, and lasts for a specified period of time thereafter, anywhere from at least 180 days to an indefinite period of time until the ...
In a ?standstill clause? the parties to a trade agreement commit to keeping the market at least as open in the future as it was as at the time of conclusion of the agreement.
It has advantages and can ease the pressure associated with limitation deadlines. It allows parties time to consider the merits of the claim and/or the defence; and gives some breathing space to explore a resolution without needing to spend otherwise unnecessary time and costs heading down the route of litigation.
The standstill period provides for a short (at least 10 calendar day) pause between the point when the contract award decision is notified to bidders, and the final contract conclusion, during which time suppliers can challenge the decision.
The standstill agreement prevents these potential buyers from publicly announcing a bid for the target, without first acquiring the consent of the target (the public company exploring a sale). In this sense, the standstill agreement is seen to help the target company control the bidding process.
An investor makes a purchase of shares in a company which brings their holdings to 45%. Concerned about the potential for a controlling share takeover by the investor, the company enters negotiations over a standstill, which prevents further purchasing beyond this point.
The standstill agreement prevents these potential buyers from publicly announcing a bid for the target, without first acquiring the consent of the target (the public company exploring a sale). In this sense, the standstill agreement is seen to help the target company control the bidding process.