Law Commons^™

Lock-Up Creep, Christina M. Sautter, Steven M. Davidoff

Steven Davidoff Solomon

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.