“Superior Proposal” means a bona fide written Takeover Proposal (except that, for purposes of this definition, each reference in the definition of “Takeover Proposal” to “15% or more” shall be “more than 50%”) that the Company Board determines in good faith (after consultation with outside legal counsel and the Company Financial Advisor) is (i) reasonably likely to be consummated and (ii) more favorable from a financial point of view to the holders of Company Common Stock than the transactions contemplated by this Agreement, taking into account: (a) all financial considerations; (b) the identity of the third party making such Takeover Proposal; (c) the anticipated timing, conditions (including any financing condition or the reliability of any debt or equity funding commitments) and prospects for completion of such Takeover Proposal; (d) the other terms and conditions of such Takeover Proposal and the implications thereof on the Company, including relevant legal, regulatory, and other aspects of such Takeover Proposal deemed relevant by the Company Board; and (e) any revisions to the terms of this Agreement and the Merger proposed by Parent. <omitted>
“Takeover Proposal” means an inquiry, proposal, or offer from any Person or group (other than Parent and its Subsidiaries,including Merger Sub), relating to any transaction or series of related transactions (other than the transactions contemplated by thisAgreement), involving any: (a) direct acquisition of assets of the Company or its Subsidiaries (including any voting equity interests of Subsidiaries, but excluding sales of assets in the ordinary course of business) equal to 15% or more of the fair market value of the Company’s and its Subsidiaries’ consolidated assets or to which 15% or more of the Company’s and its Subsidiaries’ net revenues ornet income on a consolidated basis are attributable; (b) direct acquisition of 15% or more of the voting equity interests of the Companyor any of its Subsidiaries whose business constitutes 15% or more of the consolidated net revenues, net income, or assets of theCompany and its Subsidiaries, taken as a whole; (c) tender offer or exchange offer that if consummated would result in any Person orgroup (as defined in Section 13(d) of the Exchange Act) beneficially owning (within the meaning of Section 13(d) of the Exchange Act) 15% or more of the voting power of the Company; (d) merger, consolidation, share exchange, business combination, or similartransaction involving the Company or any of its Subsidiaries, pursuant to which such Person or group (as defined in Section 13(d) of theExchange Act) would own 15% or more of the consolidated net revenues, net income, or assets of the Company, and its Subsidiaries,taken as a whole; (e) liquidation, dissolution (or the adoption of a plan of liquidation or dissolution), or recapitalization or other significantcorporate reorganization of the Company or one or more of its Subsidiaries which, individually or in the aggregate, generate or constitute 15% or more of the consolidated net revenues, net income, or assets of the Company and its Subsidiaries, taken as a whole; or (f) anycombination of the foregoing. (Page 87)

Question: Superior Offer Definition
Category: Deal Protection and Related Provisions
Answer: 50%