closely held
/ˈkloʊsli hɛld/
adjective
- Owned by a small number of people, typically a family or a small group, and not available for public trading.
- The company remains closely-held, with all shares owned by the founder's descendants.
- Closely-held businesses often have more flexibility in their decision-making than public corporations.
- Investors were interested in acquiring the closely-held firm, but the owners refused to sell.
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