In corporate mergers and acquisitions, the term 'crown jewels' refers to the target company's most desirable and valuable properties. The disposal or sale of these assets can significantly reduce the company's overall value and attractiveness as a candidate for takeover.
A lock-up option is a defensive strategy used in corporate takeovers, granting a friendly suitor the option to acquire valuable assets or shares (referred to as 'crown jewels') of a target company in the presence of a hostile takeover attempt.
A corporate strategy used to avoid a hostile takeover by disposing of valuable assets, often resulting in a significant decline in the company's value and earnings power.
