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English definition of “exchange of shares”

exchange of shares

noun [C or U]     UK ( US exchange of stock)
FINANCE an agreement when two companies merge (= become one company ) or one takes over the other, giving shareholders in each company shares in the other company : 25% of the business was sold to Tarquin Ltd ., by way of an exchange of shares .
(Definition of exchange of shares noun from the Cambridge Business English Dictionary © Cambridge University Press)
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