Tender Offer Defense Expense Insurance
Definition of "Tender offer defense expense insurance"
Coverage for defense costs incurred in defending a company from an unfriendly takeover attempt. Hostile takeovers have been one of the hottest business topics in recent years. Vulnerable companies have responded in a variety of ways including changing the corporate bylaws, selling off their most attractive assets, and, in the last resort, voting themselves huge severance packages or "golden parachutes." When a company or individual makes a tender offer for the stock of its takeover target, the latter company usually hires legal experts and mounts a costly defense. This insurance is an example of a specialized coverage that grew to meet a specific need.
Popular Insurance Terms
Written statements on a form by a prospective insured about himself, including assets and other personal information. These statements and additional information, such as a medical report, ...
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Agency of the federal government formed as the result of bankruptcies of savings and loan associations during the 1930s. Insures deposits of customers up to $100,000 for each account. In ...
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