 Merger deals may be settled easily as well as these deals may attract significant resistance from the stockholders and employees or managers of the target firm. We can classify such deals into the name like friendly merger and hostile takeover. When friendly takeovers generally these are the takeovers initiated by the acquiring firm. The acquirer decides purchasing another firm then it selects the tactics to make the merger effective. It determines the highest price it can be willing to pay to the stockholders of the target firm. The acquirer's CEO contacts with the target firm's CEO and proposes a merger. If the target firm is receptive the merger eventually can take place. But it may requires many meetings over price negotiation, payment terms and other parameters. Target firm's board of directors needs manager's merger approval and same is with the acquiring firm's. So, the acquiring firm's board of directors is also required to approve this scheme of merger. Finally, the stockholders affirmative vote is needed to materialize the merger. Hostile takeover. A merger offer may get a resistant target firm which means that the acquirer must now decide whether to pursue the merger and if so what tactics the acquirer must use to materialize the merger process. The acquirer may take a two-hold position which means the buying of the target firms shares very secretly. But this secret buying comes to an end as soon as when the acquirer's buying plan goes public. The share price rises yielding a premium buying which means that it becomes expensive for the acquirer to buy target firm's shares well above their market price. But still the acquirer price to buy as much as possible in the open market at the price which is a pre-filing price and that price is relatively the low. Acquirer may also make a tender offer and in tender offer it is a direct offer to the target firm's stockholders to buy shares above their current market price. This tender offer may specify buying of all of the shares tendered to the acquirer. In order to control the target firm, buying of all of the outstanding shares of the target firm is not necessary with enough amount of stock buying acquirer can sit in the target firm's board of directors in order to appoint managers of its own choice so that the intended merger can take place. This means that control is sought with lesser majority. Sometimes working controls allow acquirer to buy remaining shares not already owned by itself. This means that this transaction can be treated as a friendly transaction as this transaction is approved by the board of directors. Such type of mergers are often called as clean mergers. There is another mode of buying the target firm's share and that is called as street sweep. In this mode the acquirer may continue buying more shares in the open market until the control is achieved. But it is an infrequently used strategy as sometime it becomes difficult to buy enough controlling shares. Also the shares purchased in the open market cannot be returned to their original owners which is possible in the case of tender offer. Another mode to buy to get control of the target firm is called as proxy fight. It involves the corporate voting which means that the acquirer hires a proxy solicitor and that solicitor attempts to appeal shareholders prior to their stockholder meeting in order to make a pitch for the acquirer's nominated persons to be elected as directors on the board of the target firm. So the winning majority of seats on the board the acquirer can control the target firm.