TAKEOVER

glossary /

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¨C52.26. C.J.S. Securities Regulation ¡ì¡ì 121, 123¨C127, 129¨C130, 138¨C139.]

friendly takeover. A takeover that is approved by the target corporation’s board of directors.

hostile takeover. A takeover that is resisted by the target corporation’s board of directors. [Cases: Corporations 310(1). C.J.S. Corporations ¡ì¡ì 475, 477¨C484, 487¨C489.]

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