friendly takeover
A takeover that is approved by the target corporation’s board of directors.
Search Results for: TAKEOVER
transactional takeover defense
A financial or operational transaction designed to make a present or future takeover bid more difficult by raising a company’s share price, paying off the bidder, or reducing a bidder’s profit. • Examples include issuing new shares of stock, acquiring expensive assets, and adopting a poison-pill defense. See POISON PILL; PORCUPINE PROVISION.
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takeover defense
A measure taken by a corporation to discourage hostile takeover attempts. — Often shortened to defense. — Also termed shark repellent.
takeover defense
takeover defense. A measure taken by a corporation to discourage hostile takeover attempts. — Often shortened to defense. — Also termed shark repellent. structural takeover defense. A legal mechanism adopted by a corporation to thwart any future takeover bid without having any financial or operational effect on the target corporation. transactional takeover defense. A financial
takeover
takeover. The acquisition of ownership or control of a corporation. • A takeover is typically accomplished by a purchase of shares or assets, a tender offer, or a merger. [Cases: Securities Regulation 52.10–52.26. C.J.S. Securities Regulation §§ 121, 123–127, 129–130, 138–139.] friendly takeover. A takeover that is approved by the target corporation’s board of directors.
takeover bid
takeover bid. An attempt by outsiders to wrest control from the incumbent management of a target corporation. See TENDER OFFER.
structural takeover defense
A legal mechanism adopted by a corporation to thwart any future takeover bid without having any financial or operational effect on the target corporation.
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antitakeover statute
antitakeover statute. A state law designed to protect companies based in the state from hostile takeovers.
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hostile takeover
A takeover that is resisted by the target corporation’s board of directors. [Cases: Corporations 310(1). C.J.S. Corporations §§ 475, 477–484, 487–489.]
takeover agreement
An agreement under which a defaulting party’s surety agrees to perform the original contract in the defaulting party’s stead.
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