Takeover
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In business, a takeover is the purchase of one company (the target) by another (the acquirer or bidder). In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.
Management of the target company may or may not agree with a proposed takeover, and this has resulted in the following takeover classifications: friendly, hostile, reverse or back-flip. Financing a takeover often involves loans or bond issues which may include junk bonds as well as a simple cash offers. It can also include shares in the new company.
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Tactics against hostile takeover
- Bankmail
- Crown jewel defense
- Golden parachute
- Greenmail
- Killer bees
- Leveraged recapitalization
- Lobster trap
- Lock-up provision
- Nancy Reagan defense
- Non-voting stock
- Pac-Man defense
- Poison pill (shareholder rights plan)
- Flip-in
- Flip-over
- Jonestown defense
- Pension parachute
- People pill
- Voting plans
- Safe harbor
- Scorched-earth defense
- Staggered board of directors
- Standstill agreement
- Targeted repurchase
- Top-ups
- Treasury stock
- Gray knight
- White knight
- Whitemail
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See also
- Breakup fee
- Concentration of media ownership
- Control premium
- List of largest mergers and acquisitions
- Mergers and acquisitions
- Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.
- Scrip bid
- Squeeze out
- Successor company
- Transformational acquisition
Unless indicated otherwise, the text in this article is either based on Wikipedia article "Takeover" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.
