Take-over
 

 

The acquisition of one company by another. Take-overs are sometimes financed by paying cash at an offer price in excess of the market price of the shares, but more frequently for large acquisi­tions by the exchange of shares or loan stock, possibly with some cash adjustment, issued by the acquiring company for the shares of the acquired company. The term 'take-over' is normally used to imply that the acquisition is made on the initiative of the acquirer and without the full agreement of the acquired company; as distinct from a merger.

Reference: The Penguin Dictionary of Economics, 3rd edt.