Wrogie czy przyjazne przejęcie? Enea kupuje Bogdankę – case study
Hostile Takeover or Friendly Acquisition? Enea Buys Bogdanka – Case Study

Summary/Abstract: Purpose – To examine the unprecedented transaction on the Warsaw Stock Exchange, when the state-owned company listed on the WIG20 takes over another company listed on the same index. This article is an attempt to answer the question whether it was a hostile or friendly takeover. Design/methodology/approach – The study is based on a case study method and contains elements of secondary data analysis. Findings – Inexact definition of hostile takeovers and friendly acquisitions and large dynamism of the investigated process causes the inability to clearly assess the nature of the transaction. Separate parts of the transactions can be assessed both hostile and friendly acqusition. Originality/value – Article describes relatively new transaction, which took place in Autumn of 2015. This is an example of application of the definition regarding the character of the particular case of acqusition that took place in the economy.

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