| 释义 |
Fiduciary out Fiduciary outA provision that permits the Board of Directors to terminate a proposed merger if a better deal arises with another party.Fiduciary OutA provision in some merger agreements allowing the board of directors of one of the companies to terminate the deal before it is finalized if it receives a better offer from another company. A fiduciary out provision exists because boards of directors have a responsibility to always act in the best interests of shareholders. A better offer for shareholders is almost always thought to be in their best interests. |