Macaroni Defense

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Macaroni defense

A tactic used by a corporation that is the target of a hostile takeover bid involving the issue of a large number of bonds that must be redeemed at a higher value if the company is taken over.

Macaroni Defense

An antitakeover measure in which a company issues a large number of bonds with the provison that they must be redeemed at a high price if the company is taken over. The macaroni defense expands the cost of a hostile takeover (just like macaroni expands when it cooks). However, it can make a friendly takeover more difficult.

macaroni defense

A defensive tactic against a hostile takeover in which the potential target company issues a large number of bonds that must be redeemed at a substantial premium to par in the event the company is taken over. The required redemption substantially expands the cost of a hostile takeover just as macaroni expands when placed in boiling water.

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Antitakeover Measure Killer Bee Killer Bees Poison Pill Porcupine Provision Shark Repellant Shark Repellent Takeover Defense			Lusophone LUST Lutine Bell Luxembourg Franc Luxembourg Stock Exchange Luxury Luxury Automobile Luxury Tax LV LVL Lwei LY Lyapunov Exponents LYD LYON M M&IE M-1, M-2 and M-3 M1 M2 M3 MA Ma Bell MAB Macanese Pataca Macaroni Defense Macaulay duration Macedonian Denar Macro Macro Country Risk Macro Country Risks Macroassessment Macroeconomia Macroeconomics MACRS MAD Mad Hatter Made-to-Measure Tariff Madison Avenue Madrid Stock Exchange MAF Mag Mag Track Maggie Mae Maghreb Permanent Consultative Committee Maghreb States Magic of diversification Magnata magnet store Magnuson-Moss Warranty Act Magnusson-Moss Act			macaque macaque Macaque Brain Endothelial Cell Macaque monkey Macaque monkey Macaque monkey Macaque Proline-Rich Phosphoglycoprotein Macaques Macaques Macaques Macar Macar Macaranga Macaranga Gum Macarena Macarina Macario Sacay Macario Sakay macarism Macarize macaroni macaroni macaroni macaroni Macaroni & Cheese macaroni and cheese Macaroni bread Macaroni bread Macaroni cheese Macaroni cheese Macaroni Defense Macaroni Industry Macaroni noodles Macaroni noodles Macaroni Products macaroni salad Macaroni western Macaroni western macaroni wheat macaroni wheat Macaronian macaronic Macaronic language Macaronic language Macaronic verse macaronicism Macaronics macaronies macaronies macaronism macaroon Macaroons Macarroni Macarroni Macarroni & Ownage Productions Macarsca MacArthur MacArthur MacArthur (WW2 general) MacArthur (WW2 general) MacArthur Agroecology Research Center

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