→ Pre Offer Strategies Defences → Start Learning / Flashcards Téléchargement MP3

question		réponse
Staggered Board commencer à apprendre		The board is divided into groups with different election years, which prevents a bidder from quickly taking control.
Supermajority commencer à apprendre		Requires a high percentage (e.g., 80%) of shareholder votes to approve mergers, making takeovers more difficult.
Fair Price Provision commencer à apprendre		The buyer must pay a minimum “fair” price for the shares, protecting shareholders from undervalued offers.
Restricted Voting Rights commencer à apprendre		Shareholders who acquire a large stake lose their voting rights unless approved by the board.
Waiting Period commencer à apprendre		Forces a delay (e.g., several years) before a merger can be completed, slowing hostile takeover efforts.
Poison Pill commencer à apprendre		Allows existing shareholders to buy more shares cheaply if a takeover is attempted, diluting the buyer’s control.
Poison Put commencer à apprendre		Lets bondholders demand early repayment if the company is taken over, increasing takeover costs.

Pre offer strategies defences