Takeovers refer to a wide range of transactions by which one company takes control of another. A takeover can refer to a situation in which a large company acquires a smaller one, or a situation in which one firm takes control of another without actually purchasing it. In either case, the acquisition process requires regulatory approval and may require the approval of the target’s shareholders.

Takeovers typically fall into two categories: friendly or hostile. A friendly takeover involves a transaction that has been agreed upon between the two companies involved, usually with the help of a third-party mediator. A hostile takeover, on the other hand, occurs when the acquiring firm attempts to gain control of the target without securing its approval.

Takeovers can occur for a variety of reasons. An acquiring firm may find value in the target's assets, such as its customers, technologies, or market share. It may also be looking to eliminate a competitor. Takeovers may also be used to acquire a business' expertise in a certain area, such as the development of new technologies. Other times takeovers are used to initiate changes to a target company, such as streamlining operations, cutting costs, or introducing new products or services.

Regardless of the motivation behind a takeover, the process of acquiring a target company is complex and can involve a great deal of paperwork and negotiation. Companies typically begin the process with a merger proposal or acquisition agreement, either of which outlines the terms of the takeover. Once the parties agree to the terms, the acquiring firm will then make a formal offer to the target's shareholders, who must ultimately approve the transaction.

While takeovers can be beneficial to the target company, they can also lead to job losses and other consequences that may have a major impact on the local economy. This has caused regulatory authorities to consider what is in the best interests of shareholders, employees, consumers, and other stakeholders.

In conclusion, takeovers are a common way for one company to assume control of another. While a takeover is usually initiated by the acquiring firm in search of value or as a means of eliminating competition, it can also be used to initiate change or acquire expertise. The process of completing a takeover is complex and can involve a great deal of paperwork and negotiation. It is important to consider the potential impacts to the local economy and all stakeholders before beginning the process.