{'index': 2, 'text': "A 'superior proposal' is a bona fide proposal for the acquisition of at least 50% of the equity or assets of the Company that, in the determination of the Special Committee: (i) would provide the shareholders of the Company with consideration having a value per share of common stock in excess of the Offer Price; (ii) would result in a transaction more favorable to the holders of shares of common stock and preferred stock (taking into account all facts and circumstances, including all legal, financial, regulatory, and other aspects of the proposal and the identity of the offeror, but excluding any interest of Onex and its affiliates in owning the Company) than the Onex Transaction; (iii) is reasonably likely to be consummated in a timely manner (taking into account all legal, financial, regulatory, and other relevant considerations); and (iv) is not subject to a financing contingency and is made by a person or group of persons who have provided the Company with reasonable evidence that such person or group has, or has firm underwritten commitments to obtain, sufficient funds to complete such proposal (in each case taking into account any revisions to the Exchange Agreement made or proposed in writing by Purchaser prior to the time of determination)."}
Instruction: Read the segment of a merger agreement and answer the multiple-choice question by choosing the option that best characterizes the agreement.
Question: What qualifies as a superior offer in terms of stock deals?
Option A: "All or substantially all"
Option B: 50%
Option C: Greater than 50% but not "all or substantially all"
Option D: Less than 50%

Merger Agreement: 5.4 No Solicitation by the Company; Other Offers. <omitted> the Company shall not be entitled to: (i) make a Change in Company Board Recommendation <omitted> unless: <omitted> the Company shall have first provided prior <omitted> notice to Parent that it is prepared to <omitted> make a Change in Company Board Recommendation (a “Recommendation Change Notice”) <omitted> Any material changes with respect to the Intervening Event <omitted> or material changes to the financial terms of such Superior Proposal <omitted> shall require the Company to provide to Parent a new Recommendation Change Notice <omitted> and a new three (3) Business Day period. (Pages 45-46)
Answer: C

Merger Agreement: {{text}}
Answer:
Instruction: Read the segment of a merger agreement and answer the multiple-choice question by choosing the option that best characterizes the agreement.
Question: What qualifies as a superior offer in terms of stock deals?
Option A: "All or substantially all"
Option B: 50%
Option C: Greater than 50% but not "all or substantially all"
Option D: Less than 50%
Merger Agreement: A 'superior proposal' is a bona fide proposal for the acquisition of at least 50% of the equity or assets of the Company that, in the determination of the Special Committee: (i) would provide the shareholders of the Company with consideration having a value per share of common stock in excess of the Offer Price; (ii) would result in a transaction more favorable to the holders of shares of common stock and preferred stock (taking into account all facts and circumstances, including all legal, financial, regulatory, and other aspects of the proposal and the identity of the offeror, but excluding any interest of Onex and its affiliates in owning the Company) than the Onex Transaction; (iii) is reasonably likely to be consummated in a timely manner (taking into account all legal, financial, regulatory, and other relevant considerations); and (iv) is not subject to a financing contingency and is made by a person or group of persons who have provided the Company with reasonable evidence that such person or group has, or has firm underwritten commitments to obtain, sufficient funds to complete such proposal (in each case taking into account any revisions to the Exchange Agreement made or proposed in writing by Purchaser prior to the time of determination).
Answer: