Down Raid
A term describing the action of a company who is trying to takeover another company. Down raid means buying the stocks of targeted company early in the morning, as soon as the market opens.
This is done by a stock broker, which can buy only up to 15% of shares, but, during the transaction, target company is not even aware of takeover attempt.
Because of buying stocks at current market price, costs for the acquiring company will be much lower than in the case of formal takeover bid, when the target company can use differ ways of defense.
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