consortium break-up bid
United Kingdom
A public takeover offer involving a consortium of two or more companies intending to each take a portion of the target's assets on completion of the offer. The offer may be made jointly by the consortium partners or, more commonly, by one consortium member with an on-sale agreement between the bidder and its consortium partner.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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