Legal Due Diligence · glossary
A shareholder's right to be offered shares first, before they are sold to an outsider. A company's articles set it out, often with a clause letting the board refuse to register a transfer. Waivers from everyone entitled to the right go into the SPA's completion obligations. Chapter 6
Explained in Chapter 6, Corporate and Title, of Legal Due Diligence.
The main page for this term is Pre-emption right, in M&A Foundations.
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