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greenmail
(redirected from greenmailer)

   Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson 0.02 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.

greenmail [ˈgriːnˌmeɪl]
n
(Economics, Accounting & Finance / Banking & Finance) (esp in the US) the practice of a company buying sufficient shares in another company to threaten takeover and making a quick profit as a result of the threatened company buying back its shares at a higher price
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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? Mentioned in ? References in periodicals archive
 
An accomplished greenmailer, Goldberg, 54, had made millions in the risky business of buying stakes in companies, then selling to raiders or management once the companies were in play.
162(l)) was enacted as part of the Tax Reform Act of 1986 in response to the perceived abuse in "greenmail" cases of taking a tax deduction for the amount paid to the greenmailer.
Carl Icahn's exploits as a corporate raider and greenmailer are legendary:
 
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