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The Wall Street term discussed is "standstill agreement," which arises during takeover attempts when a company seeks to acquire a public company. In this context, the acquirer may buy shares on the open market, but a standstill agreement is often signed to limit further purchases, preventing the acquirer from gaining control. This agreement can be part of a settlement with the target company and may sometimes involve "greenmail," where the target pays the acquirer to halt their share purchases. The speaker shares personal experience, mentioning that they had to sign several standstill agreements during their attempts to take over companies, resulting in them being bought out.
