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greenmail |
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greenmailPayment made by a target company to avoid a takeover; for example, buying back a portion of its own shares from a potential predator (either a person or a company) at an inflated price. 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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