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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.
The Air Products shareholder rights plan is not in response to a takeover inquiry or proposal to acquire the company, according to Air Products, and will remain in force until July 24, 2014.
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 ...
In a move it admits is designed "to discourage any person from becoming a 5% shareholder, thereby reducing the risk" that anyone might want to buy it, Krispy Kreme Doughnuts announced something ...
If the potential acquirer triggers a poison pill by accumulating more than the threshold level of shares, it risks discriminatory dilution in the target company. The threshold level therefore effectively sets a ceiling on the amount of stock that any shareholder can accumulate before being required, for practical purposes, to launch a proxy contest
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 ...
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 ...
Moran v. Household International, Inc., 500 A.2d 1346 (Del. 1985) is a decision of the Delaware Supreme Court that upheld a shareholder rights plan (also known as a "poison pill") as a legitimate exercise of business judgment by Household International's board of directors. [1]