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He concludes that a broad reading was intended and that the agreement was meant to cover a hostile transaction.
We are thus left with an exploration of the meanings of "business combination" and "between" — and whether the language applies in a hostile transaction.
While shareholders can still vote on the merger or in any proxy contest, this significantly shifts the ability of United Technologies to acquire Diebold in a hostile transaction, as shares held by arbs are typically pro-takeover.
Some industry experts said yesterday that the move appeared to be a hostile transaction because Mr. Malone had so drastically increased his voting stake without informing Rupert Murdoch, the chairman of News Corporation, until the transaction was completed.
Neither company considered being the aggressor in a hostile transaction, for reasons bordering on the ethical a sentiment that was heightened by each company's earlier escape from financial predators.
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When you advise potential bidders on hostile transactions now, what do you advise them?
According to Factset SharkRepellent, there were 19 full hostile transactions announced in 2011, compared to 22 in 2009.
But we are still seeing a steady stream of hostile transactions even after the failure of Air Products.
Crown jewel lock-ups became popular in the 1980s, a period which saw a significant number of hostile transactions.
First, these modern lock-ups have thus far arisen in the context of negotiated rather than hostile transactions.
But partners say that Kohlberg, Kravis has repeatedly said, as it did again in its letter on Monday, that it would not engage in hostile transactions.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com