The corporation would effectively be bought out. The new owners would then proceed to sell off whatever of the corporation's companies they wished. Often, just enough companies are sold off to cover the cost of the purchase, while the remainder, which represent the profit of the deal, are kept. When corporate managers try to prevent corporate raiders from buying up enough stock to hold a controlling interest of their corporations, directors are usually forced to borrow heavily, or to sell off some of their companies' assets, in a desperate move to get cash to purchase their own common stock at the abnormally inflated stock prices offered to their shareholders by the takeover operators. The other alternative is for the existing directors to virtually pay the corporate raiders what amounts to a ransom to leave the corporation alone.
Raiders are interested only in quick profits.
Stripped bare, corporate takeovers are, in essence, non-productive, economically debilitating real estate flips. The most profitable way is to be the corporate raider. He was not alone. The second most profitable way is to help provide the funding for the corporate raider. For this service, the banks and the junk bond salesmen earn handsome commissions.