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A flip-over is one of five types of poison pills in which current shareholders of a targeted firm will have the option to purchase discounted stock after the potential takeover. Introduced in late 1984 and adopted by many firms, the strategy gave a common stock dividend in the form of rights to acquire the firm's common stock or preferred stock ...
A shareholder rights plan, colloquially known as a "poison pill", is a type of defensive tactic used by a corporation's board of directors against a takeover.. In the field of mergers and acquisitions, shareholder rights plans were devised in the early 1980s to prevent takeover bids by limiting a shareholder's right to negotiate a price for the sale of shares directly.
In 2004, PeopleSoft was employing the flip-in model against Oracle Corporation's multi-billion hostile takeover bid. Andrew Bartels, a research analyst for Forrester Research said, "The poison pill is designed to make it more difficult for Oracle to take over the organization. The customer assurance program is designed to compensate customers ...
Using a classic strategy aimed at fending off unwanted takeover attempts, Riverbed Technology has concocted a poison pill defense. The company announced that its board of directors unanimously ...
The airline said Wednesday that the shareholder rights plan is effective immediately and expires in a year. Shareholder rights plans, or “poison pills,” allow existing shareholders to acquire ...
Kimmeridge Energy, which spent more than $100 million to acquire SilverBow Resources stock, recently acquired another Eagle Ford E&P—Laredo Energy, an analyst said.
Mesa Petroleum, 493 A.2d 946 (Del. 1985) was a 1985 Delaware Supreme Court case that established standards for determining the acceptability of takeover defense tactics such as the poison pill. [11] At the core of the Unocal decision is the so-called proportionality test: a takeover defense is legitimate if the takeover bid presents a threat to ...
The move comes days after Riot Platforms disclosed it had built a 12% stake in Bitfarms as it pursues a takeover attempt. Riot had offered to buy Bitfarms for about $950 million last month.