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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.
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]
Unitrin, Inc. v. American General Corp., 651 A.2d 1361 (Del. 1995) is the leading case on a board of directors' ability to use defensive measures, such as poison pills or buybacks, to prevent a hostile takeover.
J.C. Penney has had a rough year already, with a vague holiday sales announcement and the planned closure of 33 stores. News broke Tuesday that the company will extend its "poison pill" until 2017 ...
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Poison pill plans, including shareholder rights plans, are used by corporate boards to thwart hostile takeover bids. Under Bitfarm's plan, if an entity accumulates more than 15% of Bitfarms' stake ...
Poison pill may refer to: Suicide pill, a physical pill for suicide by poison; Poison pill amendment or wrecking amendment, an addition to a legislative bill that renders it ineffective; Shareholder rights plan, also called a poison pill, a subclass of anti-takeover provisions that dilutes the attacker's power
The new 'poison pill', known as the shareholders rights plan, will trigger when against "creepy" bids accumulating more than 20% of the Bitfarms' common shares, the Canadian company said. The new ...