Basket meaning

CASE HUB ARCHIVED This archived case hub captures the position as at the decision of 8 December 2025; it is no longer being updated. See the timeline for further details. Case facts Outline European Commission merger review of Mars, Incorporated’s proposed acquisition of Kellanova (M.11753). The deal features horizontal overlaps in the supply of food products. Latest developments On 8 December 2025, the Commission granted unconditional clearance. While Mars, Incorporated and Kellanova possess market power and could, in theory, link categories in negotiations, the evidence did not indicate that the merger would bolster Mars, Incorporated’s bargaining power vis-à-vis retailers. Shoppers were unlikely to change supermarkets due to the parties’ products being unavailable, and no ‘basket effect’ was proven. Parties Mars, Incorporated (Mars): Headquartered in the US. A worldwide supplier of confectionery, food products, pet food and animal care services. Its portfolio includes chocolate countlines (e.g. Twix, Mars, Snickers); chocolate pouches (e.g. M&M's); sugar confectionery (e.g. Skittles); chewing gum (e.g. Airwaves,...

What is an equity derivative? Equity derivatives are contracts struck between two parties, or bought on an exchange, whose value arises from a company’s share price, a basket of shares, or a share index. They provide varied applications, giving investors flexible, cost‑effective access to movements in shares and equity markets that cannot be achieved through direct investment in the asset class. Traded over‑the‑counter (OTC) or on exchange Include numerous structured equity products May be funded or unfunded Used mainly by funds and investors for speculation, and by end‑users and banks as commercial hedges Other uses also exist... Why use equity derivatives? They enable investors to gain the benefits of equity exposure without paying an upfront purchase price, stamp duty, and other taxes. Buying a derivative is typically cheaper than purchasing shares directly. Options, for example, require only a premium to be paid in advance to secure the right to buy or sell shares, and similarly other derivatives may...

This glossary sets out many of the expressions commonly used in the leveraged finance market. Words appearing in the definitions in bold are defined elsewhere in this glossary. For further banking terminology, please refer to the main Banking & Finance Glossary... Acquisition finance glossary—A Acceleration Acceleration is the formal action taken by the agent, on the instructions of the majority lenders, following an event of default, such as making a demand for early repayment of the loan. See Practice Note: Accelerating a loan for more information... Accordion feature/accordion facility An accordion, also called an incremental debt feature, is a mechanism in the facilities agreement that, provided specified conditions are satisfied (for example, pro forma compliance with a leverage test), permits those lenders under the facilities agreement who wish to do so to advance additional debt. The terms for that extra debt are typically captured in an increase notice. This accordion or incremental debt flexibility is different from structural adjustment, which usually requires the majority consent...