A takeover or acquisition where the target is larger than the bidder with the result that the target shareholders become majority shareholders in the bidder.
Under the Listing Rules a reverse takeover occurs where a listed company acquires a business, an unlisted company or assets where any of the class tests is 100% or more or which would result in a fundamental change in the business or a change in the board or voting control of the listed company.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.