Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,894,141,708 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Anti-Greenmail Provision
(redirected from Anti-Greenmail)

     0.01 sec.
Anti-Greenmail Provision
A provision in a corporate charter forbidding the payment of a bon voyage bonus without the approval of a given majority of shareholders. Greenmailing is a practice in which a corporate raider buys a large amount of stock from another publicly-traded company and forces the latter to buy back the stock at a substantial premium in order to avoid a takeover. One refers to this buyback as the bon voyage bonus, as this enables the company to be left alone by the greenmailer. An anti-greenmail provision discourages corporate raiders from greenmailing in the first place as it makes the bon voyage bonus more difficult to receive, which may result in the greenmailer becoming stuck with ownership of shares he/she does not actually want.
Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link 		Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
The antitakeover provisions included in the study were on the books in 1991, and included (the number of sample firms adopting each of the provisions is in parenthesis): anti-greenmail provisions (25), classified boards (118), cumulative voting with significant stockholders (33), dual class common stock (21), fair price provisions (73), limitations on stockholder meetings (89), non-confidential voting (29), poison pills (138), and requirement of a supermajority approval vote (40).
A fine-grained analysis of director dependence: examining board ... by Johnson, Jonathan L.; Ellstrand, Alan E.; Dalton, Catherine M.; Dalton, Dan R. / Journal of Business Strategies
According to Gompers, Ishii, and Metrick, the following provisions are indicative of poor governance: * anti-greenmail provisions; * blank-cheque preferred stock; * business-combinations laws; * "constituency" statutes; * a classified or staggered board; * "poison pills" or "shareholders'-rights" provisions; * golden parachutes; * supermajority requirements and "control-share" acquisition statutes, and * unequal voting, or dual classes of shares.
Changing the nature of governance to create value by Allaire, Yvan; Firsirotu, Mihaela / C.D. Howe Institute Commentary
In addition, shareholders agreed with the Board in rejecting shareholder proposals regarding anti-greenmail payments and a stockholder rights plan.
Disney Shareholders Elect All 11 Directors at 2007 Annual Meeting by Business Wire
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.