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greenmail

greenmail payment, by a corporation that is a takeover target, of a premium price for the shares of its stock that have been accumulated by the potential buyer. In exchange, the potential buyer stops the takeover bid.

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greenmail

A Dictionary of Business and Management | 2006 | Â© A Dictionary of Business and Management 2006, originally published by Oxford University Press 2006. (Hide copyright information) Copyright

greenmail (greymail) The purchase of a large block of shares in a company, which are then sold back to the company at a premium over the market price in return for a promise not to launch a bid for the company. This practice is not uncommon in the USA, where companies are much freer than in the UK to buy their own shares. Although the morality of greenmail is dubious, it can be extremely profitable.

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Free newspaper and magazine articles

	Disney Board Votes to Amend Corporate Governance Guidelines to Adopt Majority Vote Standard for Director Elections and Adds Anti-Greenmail Provision to Bylaws. Business Wire; 8/18/2005
	RJR Nabisco says Lebow/Icahn solicitation is ploy to gain control of company and unload Liggett. Business Wire; 1/2/1996
	Marshall Industries leads L.A. companies in United Shareholders' responsiveness list. (United Shareholders Association; annual "Shareholders 1000") Magazine article from: Los Angeles Business Journal; 4/16/1990

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	What to do about greenmail. Magazine article from: U.S. News & World Report; 12/15/1986; ; 700+ words ; What to do about greenmail It was an early Christmas for a few...million from Safeway and its new owners. Greenmail is back in fashion. Raiders threaten...only for the raider. This surge of greenmail is rekindling the debate over what...
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