A contractual agreement detailing the specifics of the voting trust, including the name of its trustee, the effective timeframe, and the nature of its formation. Taobiz explains Voting Trust Agreement As with many different trusts, the purpose and goals must be stated in order to create a guideline for the trustee and protect stockholders that have decided to transfer their ownership rights to the trust.
Slang for the reserve of cash a corporation sets aside to attempt a takeover or to defend against a hostile takeover. Taobiz explains War Chest For example, you might hear, "Look for XYZ Company to make an acquisition soon; they've been selling off assets in order to build up their war chest."
A name given to securities in companies that are defense contractors. Also known as "defense stocks". Taobiz explains War Babies A good example of this are firms that build aircraft and ammunition. When a war is imminent, these stocks tend to outperform the market because of the potential for increased business.
An economic model of a market process in which orders are collected into batches of buys and sells and then analyzed to determine a clearing price that will decide the market price. Also referred to as "call market". Taobiz explains Walrasian Market The NYSE uses a similar process before the opening bell in order to determine opening prices. A specialist will look at all the collected orders for a particular security and select the price that will clear the greatest number of trades. In fact, up until 1871 all trading on the NYSE was executed in this fashion.
1. A procedure whereby a company gradually builds up a holding of shares in a company it wishes to takeover in the future. 2. The process of storing goods within a storage facility. Taobiz explains Warehousing 1. The acquiring company "warehouses" small lots of shares by holding them under the name of a nominee. Companies use the warehousing technique of share acquisition when they wish to remain anonymous or are unable to make a public tender offer.
A slang term for a broker-dealer firm that is strongly against hostile takeover practices. Taobiz explains White-Shoe Firm The white-shoe firm's name is derived from the white buck shoes that were a fashion requirement within elite social organizations in the 1950s.
Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in the target firm. Taobiz explains White Squire A white squire is still considered to be a friendly acquirer, they just don't require controlling interest like a "white knight" does.
A company that makes a friendly takeover offer to a target company that is being faced with a hostile takeover from a separate party. Taobiz explains White Knight The knight in shining armor gallops to the rescue!
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