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greenmail |
Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia, Hutchinson | 0.02 sec. |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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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