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Jonestown defense

   Also found in: Wikipedia 0.04 sec.
Jonestown Defense
A defensive strategy by which the target company engages in an activity that might actually ruin the company rather than prevent the hostile takeover. Also known as a "suicide pill."

Notes:
The term refers to the 1978 Jonestown massacre, where a religious cult (the People's Temple) led by Jim Jones committed mass suicide in Guyana.


Jonestown defense
An extreme defensive tactic employed by the management of a target corporation to prevent a hostile takeover. The defensive tactics are so extreme that they typically lead to the destruction of the target corporation. See: Suicide.

Jonestown defense
Defense against a corporate takeover in the form of a poison pill so strong that it threatens the survivability of the target company. The name comes from the mid-1970s Jonestown massacre.

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