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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.
In legislative debate, a wrecking amendment (also called a poison pill amendment or killer amendment) is an amendment made by a legislator who disagrees with the principles of a bill and who seeks to make it useless (by moving amendments to either make the bill malformed and nonsensical, or to severely change its intent) rather than directly opposing the bill by simply voting against it.
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
Plano, Texas-based J.C. Penney announced what it's calling a "short-term stockholder rights" plan Thursday. The plan, which is of the sort commonly referred to as a "poison pill," aims to put the ...
The Air Products rights plan is akin to a poison pill, which is structured to make an unsolicited takeover of the company prohibitively expense. In this case, the warrants received as part of the ...
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.
Imperial Tobacco had been taken over by Hanson Trust plc, and the rule 64A was introduced as an apparent poison pill, because the previous position was that employees’ pensions were only updated ad hoc and usually below inflation. This accompanied the automatic closure of the existing scheme to new entrants.
When Barnes & Noble (BKS) enacted a poison pill measure that effectively prevented outside investors from amassing 20% or more of total company shares, it kicked off a long, acrimonious proxy ...