greenmail greenmail  /ˈɡrin ˌmeɪl/

Definition(s):

  • (n) (corporation) the practice of purchasing enough shares in a firm to threaten a takeover and thereby forcing the owners to buy those shares back at a premium in order to stay in business

Usage(s):

  1. In a greenmail deal, a raider sells his shares in a target company back to the firm for a premium not available to other shareholders.
  2. They suspect that Pickens may be involved with Watanabe in a scheme to elicit a greenmail payment in return for the 20% stake.
  3. We flatly declined the greenmail because the same offer was not made to all Gulf shareholders.

News

  1. San Jose Denies 'Greenmail' Environmental Appeals

    Critics of California environmental law called a labor group's legal challenge to a downtown San Jose high-rise an example of "greenmail" abuse in which unions threaten builders with bogus claims to control hiring.
    on August 14, 2013     Source: HispanicBusiness.com

  2. San Jose denies 'greenmail' environmental appeals on high-rise project

    The San Jose City Council on Tuesday voted to reject environmental challenges to a downtown high-rise and an airport development that critics of California's environmental quality act called "greenmail" shakedowns by private interests.
    on August 14, 2013     Source: Contra Costa Times

  3. ANOTHER BULLET TRAIN MYTH EXPOSED

    The widespread use of “greenmail” — blocking projects with contrived environmental objections to win payoffs or concessions — isn’t the only reason for cynicism about the use and misuse of California’s green regulations. Now we have the spectacle of California Attorney General Kamala Harris arguing that only federal laws, not much stricter state laws, should govern the state’s bullet-train ...
    on August 13, 2013     Source: U-T San Diego

Quotes

  1. "I owe Hugo Chavez nothing. Nothing-zip-nada," said Barton. "The US in the last 50 years has given trillions of dollars to the Third World. But to say they are going to be ravaged by climate change and deserve 'Greenmail' strains...
    on Dec 18, 2009 By: Joe Barton Source: FOXNews

  2. "Never, ever accepted greenmail -- and we never will accept greenmail," Lichtenstein said at the news conference.
    on Jun 28, 2007 By: Warren Lichtenstein Source: Reuters

  3. "Now there is no greenmail," Icahn said at a hedge fund conference in New York on Feb. 15.
    on Feb 17, 2006 By: Carl Icahn Source: Forbes

Word of the Day
cursory cursory
/ˈkɜr sə ri /