1. a wrestling hold with arms locked tightly around the opponent;
2. a takeover bid so attractive that the directors of the target company must approve it or risk shareholder protest;
WordNet (r) 3.0 (2006):
bear hug
n 1: a wrestling hold with arms locked tightly around the
opponent
2: a takeover bid so attractive that the directors of the target
company must approve it or risk shareholder protest