in play

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In play

Often used in risk arbitrage. Company that has become the target of a takeover, and whose stock has now become a speculative issue.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

In Play

Describing a company believed to be a target company in a hostile takeover. A company that is in play may receive offers from gray knights or white knights, or simply from investors seeking to profit from speculation on the takeover attempt.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

in play

Of or relating to a company that has been, or is widely rumored to be, the target of a takeover attempt. After a firm is in play, additional offers may be forthcoming.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.