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Simple English definitions for legal terms
unfriendly suitor
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A quick definition of unfriendly suitor:
A corporate raider is someone who tries to take over a company by buying its stock and replacing its management, even if the company doesn't want them to. They are also called hostile bidders or unfriendly suitors. This is different from a white knight, who tries to help a company that is in trouble.
A more thorough explanation:
Definition: An unfriendly suitor, also known as a corporate raider, is a person or business that tries to take control of a company without its consent by purchasing its stocks and replacing its management. This is often done to make a profit by selling off the company's assets or making changes to increase its value.
Example: Carl Icahn is a well-known unfriendly suitor who has attempted to take over many companies, including TWA, Texaco, and Yahoo. He would buy a large amount of the company's stock and then pressure the management to make changes that would benefit him, such as selling off assets or increasing dividends.
Explanation: The example illustrates how an unfriendly suitor can use their financial power to gain control of a company and make changes that may not be in the best interest of the company or its employees. In some cases, this can lead to job losses or a decline in the company's overall value.