Larry Gotshalk oversees operations as president of Gotshalk Enterprises and has expertise in private equity, mergers, and acquisitions. Mergers and acquisitions involve companies merging operations or one acquiring another to enhance financial standing. A business takeover is an acquisition where a firm makes an offer for another's outstanding stock. However, not all transactions are friendly as hostile takeovers involve resistant targets who may use leveraged recapitalization, selling equity and acquiring debt, to become a less attractive investment.