Legal Definitions - unfriendly suitor

Definition: An unfriendly suitor, also known as a corporate raider, is a person or business that tries to take control of a company without its consent by purchasing its stocks and replacing its management. This is often done to make a profit by selling off the company's assets or making changes to increase its value.

Example: Carl Icahn is a well-known unfriendly suitor who has attempted to take over many companies, including TWA, Texaco, and Yahoo. He would buy a large amount of the company's stock and then pressure the management to make changes that would benefit him, such as selling off assets or increasing dividends.

Explanation: The example illustrates how an unfriendly suitor can use their financial power to gain control of a company and make changes that may not be in the best interest of the company or its employees. In some cases, this can lead to job losses or a decline in the company's overall value.