hostile takeover

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Related to Hostile Acquisition: friendly takeover

Hostile takeover

A takeover of a company (usually made by an open tender offer to shareholders) against the wishes of the current management and the Board of Directors by an acquiring company or raider.

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.

hostile takeover

References in periodicals archive ?
The Japanese are not ready for U.S.-style hostile acquisitions or American management tactics.
Surprisingly, despite their important implications for the interplay between negotiated and hostile acquisitions, standstill agreements have not received attention from modern academic commentators.
The Clinton Administration's original proposal had stated that "a hostile acquisition of the distributing or controlled corporation commencing after the distribution will be disregarded." See Treasury Explanation of Revenue Proposals 62.
Dutch-based hard coal producer New World Resources (PRG:BAANWR), or NWR, said today that its shareholders have approved the plan for its PLN3.427bn (USD1.15bn/EUR863m) hostile acquisition of Polish coal miner Bogdanka (WAR:LWB).
However NRG condemned the proposals as "inadequate" and "not in the best interest of NRG and its stockholders." The independent energy firm said Exelon was seeking to influence the Board to favor its hostile acquisition offer.
But the reports underscore a change in the view of Vodafone as a predator, immortalised by its historic pounds 123 billion hostile acquisition of Mannesmann in 2000.
Martin Sorrell (WPP): Twelve years ago we were a $1.5 million dollar cap wire basket manufacturer, and we took over companies by hostile acquisition. So our task was exceptionally difficult because we'd grown rapidly by acquisition, and we had to deal with companies that, frankly, didn't choose to be where they were.
Often in a friendly or hostile acquisition, the change in ownership of the target company will trigger severance payments to key employees.
Based in the Netherlands and run from offices in Cecil, Mylan, failed last year in a hostile acquisition of Ireland-based Perrigo Co..
The academics - Martin Conyon, of Warwick Business School, Sourafel Gimma, Steve Thompson and Peter Wright of Nottingham University - said: "Following a hostile acquisition, it seems reasonable to expect that rising productivity and the search for economies would be accompanied by job losses.
After a bitter hostile acquisition battle that came to a peaceful end in January, Suncor completed its deal to acquire another Syncrude partner, Canadian Oil Sands, last month.