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Explanation: A “standby statement.” This is generally a one-paragraph statement that can be read to employees, customers, suppliers, and/or the media during the due diligence period. The standby statement is never to be used proactively to announce that an acquisition is in progress. It is a “fielder,” to be used if a question or rumor arises about the acquisition before a formal announcement is made. Typically, standby statements address the fact that in keeping with the company’s strategic growth objectives, the company looks at acquisitions from time to time but that currently there is no acquisition to be announced.