Pyrrhic Victory

DEFINITION of 'Pyrrhic Victory'

A victory or success that comes at the expense of great losses or costs. In business, examples of such a victory could be succeeding at a hostile takeover bid or winning a lengthy and expensive lawsuit.


BREAKING DOWN 'Pyrrhic Victory'

In 2001, Microsoft won a Pyrrhic victory in its antitrust case when the Appeals Court decided the software giant was not to be broken up. However, Microsoft was still branded a monopoly and was subject to other punishment.

The expression alludes to the Greek King Pyrrhus who, after defeating the Romans in battle, stated: "If we win another such battle against the Romans, we will be completely lost."

RELATED TERMS
  1. Hostile Bid

    A specific type of takeover bid that is presented directly to ...
  2. Takeover Bid

    A type of corporate action in which an acquiring company makes ...
  3. Hostile Takeover

    The acquisition of one company (called the target company) by ...
  4. "Just Say No" Defense

    A strategy used by corporations to discourage hostile takeovers ...
  5. Black Knight

    A company that makes a hostile takeover offer for a target company. ...
  6. Scorched Earth Policy

    A takeover prevention strategy in which the target company seeks ...
Related Articles
  1. Investing News

    Victory Capital: Investment Manager Highlight (KEY)

    Read about Victory Capital Asset Management, a conglomeration-style asset manager that acts as an umbrella operation for nine separate investment teams.
  2. Mutual Funds & ETFs

    The Top 5 Victory Funds for Retirement Diversification in 2016

    Discover the top five victory funds for retirement diversification in 2016, with a brief summary and key performance statistics for each fund.
  3. Investing Basics

    What is a Takeover?

    A takeover happens when one company makes a bid to acquire a target company.
  4. Investing

    Hostile Takeover

    A hostile takeovers is an unfriendly acquisition attempt by a company or raider that is strongly resisted by the management and the board of directors of the target firm. Learn more about the ...
  5. Investing Basics

    Warding Off Hostile Takeovers

    The purpose of this article is to provide a general overview of hostile corporate takeovers, while highlighting a general course of action against such activity. This article provides basic information ...
  6. Mutual Funds & ETFs

    CDC vs. DLN: Comparing Dividend-Oriented ETFs

    Take a look at an overview and comparison of two dividend-oriented ETFs to learn the respective advantages and disadvantages of each fund.
  7. Personal Finance

    A History Of U.S. Monopolies

    These monoliths helped develop the economy and infrastructure at the expense of competition.
  8. Personal Finance

    GDP Growth Returns

    It's been a tough year for the broad economy, but the fact that we've emerged from the brink of economic collapse gives us plenty to be grateful for.
  9. Fundamental Analysis

    Reverse Takeover

    Learn more about this type of takeover and how companies use it to avoid IPOs.
  10. Options & Futures

    Pinpoint Takeovers First

    Use these seven steps to discover a takeover before the rest of the market catches on.
RELATED FAQS
  1. Under what circumstances might a company decide to do a hostile takeover?

    Learn about why companies use a hostile takeover to gain control of another company, and understand the different methods ... Read Answer >>
  2. What happens to the shares of a company that has been the object of a hostile takeover?

    Learn about the effect on the share price of companies that are targets of hostile takeovers, which are tactics used by famed ... Read Answer >>
  3. Why was Microsoft subject to antitrust charges in 1998?

    On May 18, 1998, the Department of Justice filed antitrust charges against Microsoft (Nasdaq:MSFT ). The charges were brought ... Read Answer >>
  4. Are there regulations against monopolies?

    A monopoly occurs when a single company or group owns all or nearly all of the market for a particular type of product or ... Read Answer >>
  5. What's the difference between a merger and a hostile takeover?

    Understand the difference between a merger and a hostile takeover, including the different ways one company can acquire another, ... Read Answer >>
  6. How can a company buy back shares to fend off a hostile takeover?

    Learn about why a business might use a stock buyback to thwart a hostile takeover attempt by reducing its total assets and ... Read Answer >>
Hot Definitions
  1. Goodwill

    An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company ...
  2. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  3. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  4. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  5. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center