It's similar to scraping an asset where the 'sum of the parts adds up to more than the whole'.
It's the process of taking over such a de-valued company and making profit out of selling any of it's assets including but not limited to office buildings, equipment etc,.. piece-by-piece.
Example:
Buying an old car, say for a $1000, and selling it's tires, metal parts, windshield etc,...stripping any decent part and trying to make more than what the car has been bought for or at least breaking even.
