Well, I'd certainly be scared if Nexon is taking over my company.
Putting those NexonNA profits to good use, I see.
I never understood this hostile takeover thing.
Nobody can buy what you're not selling.
If Gamania "insists on maintaining independent control of the company's management" then Gamania should keep 51% of its shares in its own hands. No?
Some companies do not want to have an owner because they feel better decisions will be made with voters.
When a company sells stock the number of shares a person or entity posses is divided by the number of shares issued to determine the percentage of ownership. A company cannot issue shares to themselves, so it doesn't make since to talk about them keeping 51%. Now their CEO could buy 51% of their shares then the company is owned by the CEO. If the company buys it's own shares this is referred to as treasury stock and is subtracted from the total issued shares when computing ownership.
Some companies are "employee owned." Typically this means the company sells stocks only to their employees often as a "retirement benefit" so that those voting on decisions are employees of the company. This is one way to avoid hostile takeovers (anyone rich enough would probably not care to work).
Companies who plan to prevent hostile takeovers usually have a high percentage of shares (maybe 30%) owned by those currently serving as upper level management, the board, and employees (often encouraged by intensives to buy stock such as discounts, retirement plans, or given as bonuses).
Hope you liked by business lesson today.
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