A buyout occurs when an individual or group purchases a controlling interest in a company, often to gain full ownership. This can happen through various methods, such as acquiring shares from existing shareholders or negotiating directly with the company's management. Buyouts can be friendly, where the current owners agree to the sale, or hostile, where the buyer attempts to take control against the wishes of the current management. Buyouts are common in the business world and can involve private equity firms, which specialize in investing in companies to improve their performance and eventually sell them for a profit. The process can lead to significant changes in the company's operations, management, and strategy, impacting employees and stakeholders.