Paper Title
Hostile Takeover Vis - A - Vis Defense Strategies: An Analysis

Abstract
Abstract - A takeover takes place when one company acquires control of another company, usually a smaller company than the first company. It may be defined as a transaction or series of transactions whereby a person (individual, group of individuals or a company) acquires control over the assets of another company, either directly by becoming the owner of those assets or indirectly by obtaining the control of the management of the company. Corporate takeovers take two forms - friendly and hostile. In a friendly takeover, the controlling group sells its controlling shares to another group of its own accord. In a hostile takeover, an outside group launches a hostile attack to take over the control of the company without the con-currence of the existing control-ling group. This is normally done by means of an open offer for purchase of equity shares from the shareholders of the target company. A company might be caught by surprise when takeover bid is made by some outsiders to acquire control its management. A company is supposed to take defensive steps to when it comes to know that some corporate raiders has been making efforts to takeover in different circumstances, different devices for defence are open which could be availed of as a single defence device or in multiple of two or more devices suiting the defence strategy planned and adopted by the board of directors. Antitakeover defenses can be divided in two categories, active and preventive defenses. Preventive measures are to reduce the likelihood of a takeover while active measures are employed when a hostile bid is made The proliferation of takeover defenses in the 1980s sparked an unprecedented debate over whether these defences are beneficial or detrimental. The aim of this paper is to understand the concept of takeover defense. It aims to determine what are the measures to defend the hostile takeover? It also tries to understand the legal regime behind the takeover defense. It briefly describes the main takeover defences. Keywords - Take over, Hostile , Hostile Takeover , Takeover defences