Anti-Greenmail Provision

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Anti-Greenmail Provision

A provision in a corporate charter forbidding the payment of a bon voyage bonus without the approval of a given majority of shareholders. Greenmailing is a practice in which a corporate raider buys a large amount of stock from another publicly-traded company and forces the latter to buy back the stock at a substantial premium in order to avoid a takeover. One refers to this buyback as the bon voyage bonus, as this enables the company to be left alone by the greenmailer. An anti-greenmail provision discourages corporate raiders from greenmailing in the first place as it makes the bon voyage bonus more difficult to receive, which may result in the greenmailer becoming stuck with ownership of shares he/she does not actually want.
References in classic literature ?
The photographer came out and gave a constrained, apologetic laugh.
He lifted his eyes, when he saw his master, with a half-deprecating, apologetic air.
said Defarge, with a half complaining and half apologetic shrug.
Well, sir,' said the waiter, with an apologetic air.
So, we had our slices served out, as if we were two thousand troops on a forced march instead of a man and boy at home; and we took gulps of milk and water, with apologetic countenances, from a jug on the dresser.
And so when the days of my mourning for Nicolete were ended (and in this sentence I pass over letters to and fro,--letters wild from Nicolete, letters wise from Aucassin, letters explanatory and apologetic from the Obstacle--how the Major-General had suddenly come home quite unexpectedly and compelled her to explain Nicolete's absence, etc.
not far from here," he added in an apologetic voice, somewhat abashed.
Well, sir," I said in an apologetic tone, "she was going eleven knots very nicely, and I thought she would do for another half-hour or so.
The action which before commission has been seen with that blended common sense and fresh untarnished feeling which is the healthy eye of the soul, is looked at afterwards with the lens of apologetic ingenuity, through which all things that men call beautiful and ugly are seen to be made up of textures very much alike.
Nioche made its appearance, with a series of little inquiring and apologetic obeisances, among the aromatic fumes of Newman's morning beverage.
He left us in the white flash of an apologetic grin.
He has been worrying a long time about his lost son," said Bessie, in a low, apologetic tone.