greenmail

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Greenmail

The holding of a large block of stock of a target company by an unfriendly company, with the object of forcing the target company to repurchase the stock at a substantial premium to prevent a takeover.

Greenmail

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. The corporate raider has no intention of actually buying the target company; it merely seeks to profit from the buyback. One refers to this buyback as a bon voyage bonus, as this enables the company to be left alone by the greenmailer. Some companies formulate anti-greenmail provisions in their charters or bylaws to prevent the situation from occurring in the first place.

greenmail

A defensive maneuver aimed at thwarting a potential takeover in which the target firm purchases shares of its own stock from a raider at a price above that available to other stockholders, who are ordinarily excluded from the transaction. Funds to finance greenmail are often borrowed, in which case the target company may end up with substantial additional debt. Also called negotiated share repurchase. Compare antigreenmail provision. See also fair price amendment.

greenmail

see TAKEOVER BID.

greenmail

see TAKEOVER BID.
References in periodicals archive ?
GOODBYE KISS Fergie lifting the Prem trophy before retiring
It's not even a goodbye kiss either - it's an "I'm just pretending to fancy you while I rip off the bookies" kiss.
Iraqi television journalist Muntadar al-Zaidi stood up and shouted "this is a goodbye kiss from the Iraqi people, dog," before hurling a shoe at Bush which narrowly missed him.
The band's rawness makes the scuffles of Send in the Boys ring true, while they are soft but never sloppy on the lilting goodbye kiss of Last Bus.
We at Angel Eyes wonder if it was a goodbye kiss, or maybe even a congratulations peck
That's funny coming from a business - albeit the nation's most popular sport - that twice in the form of the Rams and Raiders walked out on the city without so much as a goodbye kiss.
Other highlights include the latest single, filthy blues number Days Are Forgotten, and Goodbye Kiss.
Tom sets off on a trampolining keyboard riff, but the frontman's arena rousing swagger is injected with trippy gloom on Goodbye Kiss.
He told Bush, who was on his last trip to Iraq as American president: "This is a goodbye kiss from the Iraqi people, you dog.
In the middle of the news conference with Mr Maliki, Mr al-Zaidi stood up and shouted "This is a goodbye kiss from the Iraqi people, dog," before hurling a shoe at Mr Bush which narrowly missed him.
At the end of the fiesta Federico took Maria home to nearby Venafro where she lived, and a goodbye kiss on the doorstep quickly led to an invitation to spend the night at her house.
CHIN: Lippy smudge GRIN: She sparkles TAXI: Anna, David and Joseph STAR GAZING: Flirty look from Anna as Joseph keeps his eyes on the table PECKING ORDER: He kisses her forehead as she laughs at their shared joke SHOULDER TO LIE ON: Anna snuggles up to rest her head close to his own SHOW'S OVER: The pair stand up to leave and share affectionate goodbye kiss CHIN UP: Joseph gives Anna's neck a tender stroke at restaurant