hostile takeover


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Related to hostile takeover: poison pill

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 ?
Transition and Current Situation of Hostile Takeovers in Japan
Upon being notified of its rejected offer, Newmont immediately began taking actions to thwart the Homestake merger and launch a hostile takeover of Santa Fe.
The measures against hostile takeover bids include the so-called poison pill system to issue equity warrants for the purpose of diluting hostile takeover bidders' equity stakes to ward off their bids.
Fearing the possibility of hostile takeover bids, Daido Steel last year announced a plan to introduce anti-takeover measures including a request for bidders to specify their objectives and other details.
The petitions delivered to Senators reportedly say: 'I oppose US Airways' hostile takeover bid for Delta Air Lines because it would be bad for everyone.
said it rejected Pilgrim's Pride Corp.'s hostile takeover bid of about $1 billion and filed a lawsuit to stop the rival poultry producer from trying to elect its own officers to Gold Kist's board of directors.
Newly-appointed Xstrata Nickel CEO Ian Pearce and Xstrata CFO Trevor Reid toured the company's recently-acquired Falcon-bridge assets, in late August, while meeting with employees and community leaders to outline their "value-creating" growth strategy, and allay any fears associated with a hostile takeover.
Fighting off a hostile takeover bid by Italian electricity company Enel, French utility group Suez lodged a complaint with the European Commission on 27 March concerning the Italian law which shields its national energy champion from a foreign takeover.a"The Italian state has excessive rights over Enel, meant to protect it from any change in the control of the capital by limiting other shareholders to 3% of the voting rights", claimed Suez.
* French and Luxemburg government resistance against the hostile takeover bid by Mittal Steel, the world's largest steelmaker, on behalf of its French/Luxembourg rival Arcelor;
The implacable Lion Nathan Ltd has extended its $420 million (Australian) hostile takeover offer for Coopers Brewery Ltd to March.
NEW YORK-Mark Wattles, Ultimate Electronics' chairman and chief executive officer, may be eyeing competitor Tweeter Home Entertainment Group as a potential acquisition target, as was made evident by a request for the company to drop its hostile takeover guard.
Though the bid was ultimately withdrawn, its reverberations will be felt for many years to come, as similarly hostile takeover bids are now inevitable.