Bon voyage bonus

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Bon voyage bonus

See: Greenmail.

Bon Voyage Bonus

The payment to a greenmailer. 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.