Considering the recent interest in potash and the proposed buyout from bhp then it is worthwhile to actually review the definition.
Definition 1
Purchase of the controlling stock or shares of a firm by its own management. If borrowed funds are used in the buyout, it is called a 'leveraged buyout.'
Definition 2
Purchase by a publicly traded firm of its outstanding (held by the public) stock to thwart a takeover attempt, or to take the firm off the stockmarket for converting it into a private company.
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