That was how he executed a friendly, $750 million acquisition of the Pioneer Corporation last June.

No cash changed hands and the friendly acquisition was completed via a stock swap arrangement between the two privately held firms under US accounting rules.

Their plan is to outlaw "hostile" offers but to let all the "friendly" acquisitions go on without interference.

After the friendly acquisition in 2004, Kadokawa Pictures quickly went to work on several projects.

Hostile takeovers remain rare because of a cultural aversion to confrontation, and even friendly acquisitions can still carry a social stigma.

"But there is a 15 percent chance that Willamette could find a friendly acquisition of its own that could happen quickly," he added.

In late 2010, Emnico Technologies launched a successful friendly acquisition of Datalibrium.

The power authority, couching its offer today as a response to that letter, proposed a friendly acquisition of Lilco's assets by the authority.

With an agreement reached this week, even that limit will be lifted soon for friendly acquisitions.

In October, it had indicated that it might be willing to pay $50 a share in a friendly acquisition.