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Go Shop Period

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Dictionary Says

Definition of 'Go Shop Period '

A provision that allows a public company that is being sold to seek out competing offers even after it has already received a firm purchase offer. The original offer then functions as a floor for possible better offers. The duration of a go-shop period is usually about one to two months. Go-shop agreements may give the initial bidder the opportunity to match any better offer the company receives, and may pay the initial bidder a termination fee if target companies are purchased by another firm.
Investopedia Says

Investopedia explains 'Go Shop Period '

The go-shop period is meant to help ensure that the board of directors fulfills its fiduciary duty to make sure shareholders get the best deal possible from the transaction. Critics say that go-shop periods rarely result in additional offers, and that they don't give other potential buyers enough time to perform due diligence on the target company.

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