Final answer:
The entity that seeks to acquire or take over another company is called an acquirer or buying company, and the process is known as an acquisition.
Step-by-step explanation:
The company or individual that wants to acquire or take over another company is known as an acquirer or a buying company. In the context of corporate structuring, when one firm purchases another, the process is termed an acquisition. Unlike a merger, where two firms of a similar size may join forces to become one entity in what is often a mutual decision, an acquisition typically involves a larger company taking over a smaller one, which might continue to operate under its former name or be integrated into the acquiring company's operations.