In the context of a takeover bid conducted pursuant to Chapter 6 of the Corporations Act 2001 (Cth), a bid that is not supported by the target's board of directors at the time that the bidder announces the takeover bid. A hostile takeover can be differentiated from a "friendly" takeover bid, which is a takeover bid that is supported by the target's board and recommended by the target's directors. Hostile takeover bids that do not at any stage receive target board support are less likely to be successful.

For more information about takeover bids, see Practice note: overview, Takeovers regulation and Practice note, Takeovers: the prohibition on certain acquisitions of relevant interests in voting shares.