an act or instance of buying out, especially of buying all or a controlling percentage of the shares in a company.

1970–75 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Word Origin & History

two words at first; "to purchase someone's estate and turn him out of it," 1640s, from buy + out. As one word, "the purchasing of a controlling share in a company," from 1976.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
It is called the buyout market and it is driven by government bond yields.
And so it goes until the player either takes the buyout or opens his suitcase.
Most workers benefit from some sort of buyout package.
The company will make group outplacement and career counseling services
  available to those participating in the buyout program.
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