take-under

plural take-unders

1. businessA proposed acquisition of a company at a price below its market price.

   Yes SanDisk is being acquired at a 40% premium to its stock price at the beginning of October, but the deal amounts to a 20% take-under from beginning of year share prices.

   2015 October 21, Antoine Gara, “Why KLA-Tencor's Sale Should Change Silicon Valley Forever”, in Forbes

   2 more examples

   PNC said the deal represented an offer of $2.23 for each share of National City, or nearly 19 percent below the stock’s closing price on Thursday. That makes the acquisition a “take-under,” meaning the purchase price is below the market value of the target company.

   2008 October 24, Eric Dash, “PNC Gets National City in Latest Bank Acquisition”, in New York Times

   And, immediately, they realized that Credit Suisse could not stand on its own two feet. And the government there in Europe, I think there was a lot of suasion to force what effectively is a shotgun take-under, a merger.

   2023 March 20, Roben Farzad, “Can banking takeovers and rescues stabilize the markets?”, in PBSNewsHour (transcript of interview)