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greenmail

   Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
green·mail  (grnml)
n.
An antitakeover maneuver in which the target firm purchases the raider's stock at a price above that available to other stockholders.
[green, money + (black)mail.]
greenmailer n.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.greenmail - (corporation) the practice of purchasing enough shares in a firm to threaten a takeover and thereby forcing the owners to buy those shares back at a premium in order to stay in business
porcupine provision, shark repellent - a measure undertaken by a corporation to discourage unwanted takeover attempts
corp, corporation - a business firm whose articles of incorporation have been approved in some state
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Despite opposition from Disney's board, shareholders voted in favor of a proposal to stop greenmail - the payment of money to appease a proxy contest or takeover threat.
MAGIC DAY FOR DISNEY BOARD NO SQUEAKER AS SHAREHOLDERS SHOW SUPPORT by Daily News (Los Angeles, CA)
During the takeover battles of the 1980's, abuses like greenmail and poison pills even led Congress to consider legislation to enfranchise shareholders.
Shareholder democracy: Led by an unlikely activist, the years-long ... by Millman, Gregory J. / Chief Executive (U.S.)
The company sued for injunctive relief, arguing that the shareholder had a fiduciary responsibility not to end the S status nor greenmail the company.
Current developments by Karlinsky, Stewart S. / The Tax Adviser
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