The acquisition of a controlling interest or the acquisition of a controlling majority of the shares in a company. If this is done by the management, it is also referred to as a management buyout (MBO). As a rule, the investor does not acquire the company directly, but through a specially established acquisition company (new company, sometimes abbreviated to NEWCO in German). This company acquires either shares in the target company (share deal) or assets (asset deal). – See defensive measure, share swap takeover, cannibalization, investment company, buyout capital, Colombo, acquisition offer, fairness opinion, mergers and acquisitions, poison pill, leveraged buyout, macaroni defense, Pac-Man strategy, mandatory offer, Ritter, weisser, special dividend, squeeze-out, venture capital, voting rights database, deadwood, takeover offer. – Cf. ECB Monthly Bulletin of October 2005, p. 23 ff (overview of developments in Europe), ECB Monthly Bulletin of November 2007, p. 26 ff (decline in LBO activity and its causes; overviews).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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