Greenmailer


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Greenmailer

A corporate raider who buys a large amount of stock from a publicly-traded company and forces it 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. T. Boone Pickens was a prominent greenmailer in the 1980s.
References in periodicals archive ?
To look for value creation in the market movements caused by greenmailer greed is not healthy, is not credible, is not in the long-term interests of management/shareholder-run enterprises, and is truly the road to the destabilization of American business.
UPON HEARING the name Saul Steinberg, many would immediately have these associations: (a) made a hostile bid for Chemical Bank in the late 1960s; (b) was a hair's-breadth away from acquiring Disney in the mid-1980s; and (c) "notorious corporate raider" and greenmailer.
This is the same group of small-time greenmailers we sued in October 2002 for harassing us and demanding we make immediate cash payments to them," said Jeffrey Peterson, Quepasa's original founder, current President and Chief Executive Officer.