Not all takeovers are positive unfortunately. One incredibly basic scenario I can imagine playing out...<p>I own 1&#x2F;3 of a company, with two other founders who own 1&#x2F;3 each.<p>We&#x27;re approached by a company that wants to buy us, and they offer a deal that my co-founders jump at but I&#x27;m not so sure. I now need to &quot;fend off&quot; the takeover by convincing my co-founders not to see the deal through. This is especially troublesome given they have a majority between them. If there are more than three shareholders or more complex company structures (such as a company that previously raised a round of investment and has a group of investors looking to get out) then more possibilities come in to play.<p>Let&#x27;s then go on to assume that the (hostile) takeover isn&#x27;t successful. The buyer could seek opportunities in my marketplace to make my business less valuable. They might purchase a competitor who was previously smaller than us but is then provided the capacity and financial resource for growth that we do not have.