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takeover The acquisition of one company (in the UK, a public company) by another, usually larger, company. Takeovers can be ‘friendly’, where a company agrees to the terms of an offer being made by the would-be acquiring company; or they can be ‘hostile’, usually where the company has expressed no desire to be bought or has openly opposed it, but the acquiring company uses means such as buying large amounts of the target company’s stock on the open market until they have a powerful enough position to influence the board, or by approaching board members in person and making persuasive offers to them to take control of the boardroom. The risk to the acquiring company is that since they were not privy to sensitive information about the target company before the purchase, they might unwittingly stumble into buying a company with large debts or other structural problems, which will then become their own problems. Such an eventuality would not happen with a friendly takeover. There is also the risk that the target company’s employees might have built up a relationship with the old board and could have animosity towards the new one.

takeover bid An offer to buy enough of a company’s shares to take control of the company. To make this bid attractive and more likely to be accepted, a takeover bid is usually made at a higher value than the current market value of the shares.

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takfir, takfeer A person’s declaration that they are a non-believer, or the judgement from others that a person’s actions or words have effectively demonstrated his or her lack of belief.

taking a position Choosing to take a long position or a short position when acquiring securities.

talaq A divorce.

talaq bil kitabati ilal gha-ib, al- A written talaq (divorce) to a spouse who is not present.

talaqu bil Isharah, al- A talaq (divorce) by indication.

Talib, Abu The Prophet Muhammad’s uncle, who raised Muhammad from the age of eight years after he was orphaned. When Muhammad first preached the word of God, Abu Talib and his son, Ali, were among the first to accept the faith. During the early days of Muhammad’s preaching, when there was much hostility towards him, Abu Talib was a key protector of the prophet.

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