Hostile takeovers are often a high-risk business that leaves a lasting impression on the corporate landscape. They involve a acquiring company attempting to take over the company of the target against the wishes of the management and board. Despite their high-profile and public nature hostile takeovers aren't as prevalent as they once were.

During the 1980s, there were a record number of unsolicited hostile takeover bids made, and board members feared of "corporate raiders" such as Carl Icahn. These events were widely reported, which led to long and mudslinging talks.

A notable example is the acquisition of Cadbury in 2009 by Kraft Foods Inc. It was the biggest hostile acquisition in the history of the company and workers in the UK were outraged at the possibility of losing their jobs. Cadbury's management was against the deal and claimed that it was not worth the value of the company. Eventually, however, Kraft sweetened the offer and bought the confectionery giant.

Another notable instance is the acquisition by KKR of Airgas in the year 2010. This hostile takeover of an industrial gas company was one of the largest leveraged acquisitions of the period. The battle became an international media sensation, and the deal ultimately sank into a long legal dispute.

Another recent instance is the acquisition of Twitter by Elon Musk in 2022. This was an unpopular takeover that required the use of an anti-poison pill defense that resulted in tense negotiations and sweeping policies https://jobdataroom.com/essential-features-of-virtual-data-rooms-for-business-growth/ changes following the acquisition. This was an example of an acquisition with strategic value that was able to weather the hostile takeover battle, showing how crucial it is for a potential firm to have a well-defined strategy to resist unwanted offers.