standstill agreement

noun

1. an agreement that preserves the status quo, esp one between two countries when one country cannot pay its debts to the other that a certain fixed extension of time will be given to repay the debts

Example Sentences

Strathcona Resources SCR -3.88%decrease; red down pointing triangle terminated its takeover bid for MEG Energy MEG -2.30%decrease; red down pointing triangle , days after rival Cenovus Energy upped its offer to buy out the Canadian oil-sands producer and changed the terms of their standstill agreement.

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On Wednesday, the two parties said they have changed the terms to their existing standstill agreement, which would allow Cenovus to go through with buying up to 9.9% of MEG’s shares to use in favor of counteracting Strathcona’s vote.

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Cliffs has refused to sign a six-month standstill agreement that would prevent it from challenging U.S.

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The Liberty Steel group owned by commodities tycoon Sanjeev Gupta said it has reached a standstill agreement with its largest creditor Greensill Bank on debt facilities for its European business.

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But Silver Lake also agreed at the time not to acquire more than 5 percent of the company, so Twitter would have to waive that so-called standstill agreement before it could entertain any offer from Silver Lake.

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