# Hostile Takeover

*Corporate Finance & M&A — Finicade finance glossary*

A hostile takeover is an acquisition pursued against the target board's wishes, through a tender offer or a proxy fight to replace the directors. Hostile in this context means unwelcome to management, not to shareholders, who are frequently being offered a substantial premium. The defences that exist — poison pills, staggered boards — protect incumbents and are therefore permanently controversial.

**Also known as:** hostile bid, unsolicited offer

**Related terms:** [Tender Offer](https://finicade.com/glossary/tender-offer), [Poison Pill](https://finicade.com/glossary/poison-pill), [White Knight](https://finicade.com/glossary/white-knight), [Activist Investor](https://finicade.com/glossary/activist-investor), [Corporate Governance](https://finicade.com/glossary/corporate-governance)

Source: https://finicade.com/glossary/hostile-takeover