This document defines a takeover as an offer to purchase enough shares of a company to gain majority control. It discusses why companies do takeovers (to grow, fill niches, etc.), when they occur (when a company wants to become bigger), and which companies can be taken over (private companies with good value). It outlines the purposes of takeovers being to make bigger companies and describes friendly takeovers occurring with board approval and hostile takeovers occurring without it. Advantages include increased sales and scale, while disadvantages include job cuts and reduced competition. The procedure involves acquiring unlisted company shares or following SEBI regulations for public companies.