red face clause
n.— «The terms of the irrevocable undertakings indicate they are not set in concrete. One of them could be broken by a competing bid just 5% higher than Implats’ 55p offer through the provisions of what is known as a “red face clause.” The agreement said the undertakings will cease to be binding in the event of a general offer for Afplats by a third party which is 5% higher in the case of the undertaking from shareholder CGT Management and 10% higher in the case of the undertakings from US hedge fund North Sound.» —“Impala may get Afplats rival” by Brendan Ryan Miningmx.com Mar. 14, 2007. (source: Double-Tongued Dictionary)
Further reading
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Quiz Guy John Chaneski pairs of words in which the last sound of the first word is the same as the first sound of the second word. You might call it a kind of “portmanteau-verload.” For example, what’s this harves John keeps hearing about? It’s...