unfriendly takeover


Also found in: Dictionary, Thesaurus, Legal.

Hostile Takeover

The acquisition of one company by another without the consent of the target company's board of directors. Generally speaking, a hostile takeover involves the acquiring company buying stock directly from shareholders, sometimes by offering a particularly high price. The acquiring company may buy up to 5% of the target company without registering the move with the SEC. See also: Friendly takeover, Corporate raider.

unfriendly takeover

The acquisition of a firm despite resistance by the target firm's management and board of directors. Also called hostile takeover. Compare friendly takeover. See also killer bee, raider.
References in periodicals archive ?
However, the Service has announced that it will apply the INDOPCO decision to both friendly and unfriendly takeovers.
The buyout, if successful, will turn World into a privately owned company as a step to discourage an unfriendly takeover.
11, 1998--Raychem Corporation's (NYSE:RYC) board of directors today adopted a new stockholder rights plan designed to protect stockholders in the event of an unfriendly takeover by encouraging potential acquirers to negotiate with the board.
With the management buyout scheme aimed at discouraging an unfriendly takeover, World plans to delist its stock possibly in November.
Technology companies are no longer immune to unfriendly takeover attempts during downturns in their stock price.
Among the accomplishments that Turley remembers most vividly is his battle, in 1985, to save Eckerd from an unfriendly takeover, a battle that ended with the 1986 leveraged buyout that took the public company private.
President Kerry Sully stated, "We consider Crestar's offer to be an unfriendly takeover bid an we will take all steps necessary to protect our shareholders.
In the process, he saved Peoples from an unfriendly takeover by another chain drug executive.
In stark contrast to the mid-1980s, when its earnings fell and it had to fight off an unfriendly takeover, Eckerd used its financial resources during 1989 to acquire three chains: the 16-store Dunaway Drug Stores chain, based in Marietta, Ga.
Unlike Tribune, Gannett and, lamentably, the late Knight Ridder, these companies are protected from unfriendly takeovers because family and management maintain control through non-trading voting stock.
Family-run businesses also fear unfriendly takeovers once the company is public, he says.