An agreed bid is a takeover bid that is supported by a majority of the shareholders of the target company, whereas a hostile bid is not welcomed by the majority of the shareholders of the target company.
A hostile bid is an attempt to acquire a company without the approval of the company's board of directors. Unlike an agreed bid, a hostile bid is unsolicited and can be seen as unfriendly by the target company.
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.
