Taking a firm private involves an attempt to turn a profit-seeking corporation into a non-profit corporation in order to avoid a hostile takeover.

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Taking a firm private involves purchasing all outstanding shares of a publicly-traded company in order to make it a privately-held company. It does not involve turning the company into a non-profit corporation, and is not typically done to avoid a hostile takeover. In fact, going private can make a company more vulnerable to takeovers as there are fewer regulations and protections for private companies.

Taking a Firm Private Involves an Attempt to Turn a Profit-Seeking