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Corporate Raider |
Also found in: Dictionary/thesaurus, Hutchinson | 0.01 sec. |
Corporate Raider A person or company that is offering or executing a hostile takeover by buying shares directly from shareholders. If a firm makes an offer to shareholders to acquire a publicly-traded company after the board of directors refuses, or if it bypasses the board completely, one refers to the acquiring firm as a corporate raider. Often, the corporate raider does not actually intend to take over the target company, but is simply trying to force the board of directors to repurchase shares at a premium to their market value. A corporate raider that accumulates more than 5 percent of a company's outstanding shares must register with the SEC. It is also known simply as a raider. See also: Greenmail, Premium raid. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Sometimes corporate excess is reigned in by corporate raiders, real-life Gordon Gekkos who are ironically regarded as the very embodiment of white-collar excess. But it wasn't until 1984 - during the era of the corporate raiders - that the fund made its commitment to corporate governance. The pro-management camp, led by the Business Roundtable, says the proposal could prevent management from appointing board candidates with needed expertise and might throw corporations onto the mercies of corporate raiders and special interest groups. |
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