                                             491

   .       
  ,       49,9% .

 ,  ,     
 ,    ,    .  
   .  , ,  
 ,         .

17.1.4   

    ,     -
      ,   
    ,  ,   -
 (takeover).        -
 (tender offer)   ,      -
 (target firm)2.     ,  (bidder) -
          .
(   5%,     10    
  SEC   13.) ,     
 -,       .  -
      ,    -
    .    
      ,    . 
,  ,    ,   -
  .        , 
  (tender price)      ,
           

   ,   ,    -
         
  .     (white knight), .. 
,           -
   .      -
           (greenmail). 
    ,     
 ,      (repurchase offer). 
       . ( 
  ,       -
 .)     , ,  -
(Pac-Man defense),         
        ;  -
  (crown jewel defence),       ,
       ;  
 (poison pills),      , 
        ,    -
  -.

17.1.5     

      ,       -
   3.      
.  ,     , 
          .
        -
,      .    -
,          -
  .       ,   