Saturday Night Special


Saturday Night Special
An obsolete takeover strategy where one company attempted a takeover of another company by making a sudden public tender offer, usually over the weekend. This merger and acquisition (M&A) technique was popular in the early 1970s when the Williams Act required only seven calendar days between the time that a tender was publicly announced and its deadline. Catching the target company off guard and over the weekend, effectively reducing its time for a response, often afforded the acquiring company an advantage.

A tender offer is basically an attempt to takeover control of a company by asking shareholders to sell their shares at a specified price (usually above market). If enough shareholders sell their shares, the takeover is complete. The Saturday Night Special was effective when the Williams Act required a minimum of seven days between the public announcement of the tender and its deadline. When the time period was extended to 20 days, this technique failed to be the quick strike it was originally intended to be. In addition, acquisitions of 5% or more of equity now need to be disclosed to the Securities Exchange Commission (SEC).


Investment dictionary. . 2012.

Look at other dictionaries:

  • Saturday Night Special — is a 60 minute long, comedy variety show. It aired weekly in Saturday nights on FOX. This show was a competitor to Saturday Night Live , with a similar format of comedy skits and musicians. It debuted on April 1, 1996 through May 18, 1996, airing …   Wikipedia

  • Saturday night special — ☆ Saturday night special n. 〚from their use in weekend crimes〛 Slang any small, cheap, short barreled handgun that is readily available * * * …   Universalium

  • Saturday night special — Saturday ,night special noun count AMERICAN MAINLY JOURNALISM a small inexpensive HANDGUN that is easy to hide …   Usage of the words and phrases in modern English

  • Saturday night special — ☆ Saturday night special n. [from their use in weekend crimes] Slang any small, cheap, short barreled handgun that is readily available …   English World dictionary

  • Saturday night special — The phrase Saturday night special is pejorative slang used in the United States and Canada for any inexpensive handgun. Saturday night specials have been defined as compact, inexpensive handguns with low perceived quality; however, there is no… …   Wikipedia

  • Saturday night special — n. a small, easily obtainable pistol. □ There was another killing last night with a Saturday night special. □ That’s the tenth shooting done with a Saturday night special this week …   Dictionary of American slang and colloquial expressions

  • Saturday night special — In corporate law, a surprise tender offer which expires in one week. Designed to capitalize on panic and haste, such an offer may be made Friday afternoon to take advantage of the fact that markets and most offices are closed on Saturday and… …   Black's law dictionary

  • Saturday-night special — Sat′urday night spe′cial n. inf a cheap, small caliber handgun that is easily obtainable and concealable • Etymology: 1965–70 …   From formal English to slang

  • Saturday night special — noun Date: 1968 a cheap easily concealed handgun …   New Collegiate Dictionary

  • Saturday-night special — /sat euhr day nuyt , dee /, Informal. a cheap, small caliber handgun that is easily obtainable and concealable. [1965 70] * * * …   Universalium


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.