这里的“shop”指的是招揽的意思。

go shop 招揽权

并购协议条款，允许目标公司在协议签订后的一段时间内主动招揽其他竞价者，规定招揽权的交易，通常目标公司在协议签订前未实施公开竞价。

A go-shop period is a provision that allows a public company 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.

no-shop 禁止招揽

并购协议条款，禁止目标公司在协议签订后主动招揽其他竞价者，规定禁止招揽的交易，通常目标公司在协议签订前已经实施公开竞价。

The no-shop period affords the acquiree no such option. In the case of a no-shop provision, the company being acquired would have to pay a hefty breakup fee if it decides to sell to another company after the offer is made.

例如，2016年，微软宣布将以262亿美元的价格收购领英。双方就此签订的初步协议中就有一项禁止招揽的条款。这一条款规定，如果领英找到另一买方，则其需向微软支付7.25亿美元的分手费。

breakup fee分手费

并购协议条款，目标公司承诺最终未实现交割时，将向收购方支付的补偿金。

以下为某并购协议中的相关条款，供参考：

No Shop Clause禁止招揽条款

Parent shall, and shall cause each of its Affiliates to, (i) immediately cease and cause to be terminated any activities, discussions or negotiations with any Person with respect to an Acquisition Proposal or any inquiry, expression of interest, proposal, offer or request for information that could reasonably be expected to lead to an Acquisition Proposal; (ii) terminate access by any Person to any physical or electronic data room or other access to data of Parent and its Affiliates, in each case relating to or in connection with, an Acquisition Proposal and (iii) request any such Person and its representatives to promptly return or destroy all confidential information concerning Parent and its Affiliates relating to, or in connection with, an Acquisition Proposal.

母公司应，并应促使其各关联方（i）立即停止并促使终止与任何人士就收购方案开展的任何活动、讨论或磋商或经合理预期将产生收购方案的任何询价、意向书、方案、要约或信息请求；（ii）禁止任何人士进入收购方案相关的任何实体或电子数据室，或禁止获取母公司及其关联方与收购方案相关的数据；（iii）要求任何该等人士及其代表及时返还或销毁母公司及其关联方所有与收购方案相关的保密信息。