to seize
verb
to take possession of by legal authority; to confiscate
Customs Officers at the Heathrow seized 60 kilos of heroin. (Cambridge Dictionaries Online)

to use legal or official power to take (something) (Merriam-Webster)
The bank seized their property.

(of police or another authority) take possession of (something) by warrant or legal right
Police have seized 726 lb of cocaine
(Oxford Dictionary)

Yes, REALLY! They "seized" the company.

I just wish some people in this world would not be so myopic