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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 ...
Just last week, Bill Ackman resigned from the board of directors of J.C. Penney (NYSE: JCP), after several weeks of tense and arduous disagreement over the direction and leadership of the company.
Shareholder rights plans, or “poison pills,” allow existing shareholders to acquire shares at a discounted rate to discourage a takeover by an outside entity.
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 ...
SilverBow Resources announced in mid-September the acquisition of a new position in the Eagle Ford’s dry gas Dorado play in a series of transactions totaling $50 million.