Takeover control: acquisition methods, statutory consent and dissent procedures, and corporate anti takeover defenses clarified.

A takeover is acquisition of control by purchase or exchange of shares and may be friendly, hostile, or reverse. Consideration may be cash, shares, combined methods, acquisition via a new company, or purchase of minority stakes. Statutory procedures require board approval, circulation of offer documents, filing of consents, prescribed notice to dissenting shareholders, registration of transferred shares, trust treatment of consideration, and maintenance of investment registers. Anti takeover defenses include supermajority and fair price provisions, classified boards, preferred stock authorization, refusal to register transfers, and poison pill securities.

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