Hostile takeovers are high-risk occasion that can leave an indelible mark on corporate landscape. They involve an acquirer trying to acquire the target company against the wishes of the management and board. Hostile takeovers, despite their escalating drama and public nature aren't as frequent as they were in the past.

During the 1980s, there was a total of 160 hostile takeover bids that were not solicited, and board members were in constant fear of "corporate raiders" such as Carl Icahn. These events were widely covered, which led to long and mudslinging negotiation.

One of the most notable instances was the acquisition of Cadbury by Kraft Foods Inc in 2009. It was virtual data rooms the most hostile acquisition in history, and workers in the UK were outraged at the prospect of losing their jobs. Cadbury's management resisted the offer due to it being an extremely low-ball offer. However, eventually, Kraft sweetened the offer and took over the confectionary giant.

Another noteworthy case was the acquisition of Airgas by KKR in the year 2010. This hostile takeover of an industrial gas producer was among the biggest leveraged acquisitions of that era. The dispute became an international media sensation, and the deal ultimately became a lengthy legal battle.

A more recent example is the acquisition of Twitter by Elon Musk in 2022. This was an unpopular takeover that required the use of a poison pill defense, and led to tense negotiations and major policy changes after the acquisition. This was a case of an acquisition that was strategically planned and able to weather the battle of hostile takeovers, proving how important it is for a prospective company to have a well-planned strategy to fend off unwanted offers.