ɪɾ ɪz tˈɪpɪkli pɹəvˈaɪdᵻd tə ðɪ ɐkwɪsˈɪʃən vˈiəkəl, ˈiːðɚɹ ɐnˈʌðɚ kˈʌmpəni ɔːɹ ɐ spˈɛʃəl pˈɜːpəs ˈɛntᵻɾi ˌɛspˌiːˈiː, ænd nˌɑːt tə ðə tˈɑːɹɡɪt ɪtsˈɛlf.
It is typically provided to the acquisition vehicle, either another company or a special purpose entity (SPE), and not to the target itself.