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greenmail
(redirected from Green mail)

   Also found in: Legal, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
Greenmail
A situation in which a large block of stock is held by an unfriendly company. This forces the target company to repurchase the stock at a substantial premium to prevent a takeover. It is also known as a "Bon Voyage Bonus" or a "Goodbye Kiss".

Notes:
Not unlike blackmail, this is a dirty tactic, but it's very effective.


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 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.


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From the centre's Buy Green mail order catalogue you can order an amazing variety of items, including a solar fan cap, rustic pencils and a solar cook book.
The Company would not entertain such a proposal which amounted only to green mail and brought no value to shareholders.
I believe their attempt to impede the merger is a continuation of their effort to obtain green mail.
 
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