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The phrase 'takeover bid' is correct in written English.
You can use it to describe a situation where a company or organization makes an offer to buy a shares of another company or organization. For example, "After making a successful takeover bid, the new company was in control of the entire business."
Dictionary
takeover bid
noun
An attempt to buy a controlling share in a business.
Exact(60)
It received a sweetened takeover bid.
This is especially true under the new takeover bid rules.
A takeover bid is still a possibility.
How generous is Microsoft's takeover bid?
The company rejected a takeover bid.
Livedoor itself may now face a takeover bid.
See articleThe board of Yahoo! rejected Microsoft's takeover bid.
EVERY couple of months, I cover a takeover bid.
See articleISS accepted a takeover bid from G4S.
The motivation for the takeover bid was purely financial.
News Corp's BSkyB takeover bid: what happens next?
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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