lock-up option

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Noun1.lock-up option - an option to buy the crown jewels offered to a white knight in order to forestall a hostile takeover
option - the right to buy or sell property at an agreed price; the right is purchased and if it is not exercised by a stated date the money is forfeited
References in periodicals archive ?
contained in the recently issued unsecured debt, a lockup option that
a lockup option to purchase two of Revlon's divisions (Vision Care