An acquisition of a firm through the purchase of shares of the outstanding stock can be accomplished without having the shareholders vote on the acquisition.

Shareholders Vote

A right of shareholders to vote on important company matters, such as the election of directors or significant corporate actions.

Acquisition

The process by which one company takes over another company, either through the purchase of its shares or assets.

Outstanding Stock

Outstanding stock refers to the total shares of a company held by all its shareholders, including share blocks held by institutional investors and restricted shares.