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.