takeover defense

Antitakeover Measure

Periodic or continual measures a firm's management takes to discourage unwanted or hostile takeovers. One example of an antitakeover measure is the macaroni defense, in which the company issues a large number of bonds with the proviso that they must be redeemed at a high price if the company is taken over. See also: Shark Watcher.

takeover defense

References in periodicals archive ?
He has extensive experience in all aspects of financial advisory services, including divestitures, buyer advisory services, mergers, recapitalizations, and takeover defense.
academics should take account of the takeover defense that really
Most recently, Maletta has served as vice president, associate general counsel and corporate secretary of Allergan as well as served as an advisor to the CEO and board of directors and supervised several large M&A transactions and takeover defense activities.
As the threat of hostile takeovers has grown the number of corporations introducing takeover defense measures has rapidly increased since the mid-2000s.
She advises public companies, boards of directors and special committees in connection with M&A, corporate governance and crisis management, including consensual and hostile transactions, leveraged buyouts, strategic investments, takeover defense, proxy contests and hedge fund activism.
The authors postulate that performance of a firm as measured by return on investment (ROI), return on equity (ROE), and return on asset (ROA) is a function of the score of a firm on the corporate governance quotient within the index to which that company belongs as well as a score on components of corporate governance that includes board quality, executive and director compensation, takeover defense, and audit committee.
99) Another study by Klausner focused on newly public firms with private equity and leveraged-buyout firm investors and found that many potential rationales previously proposed to explain varied takeover defense levels--such as inducing founders to sell additional shares, preserving efficient private benefits, pre-IPO agency costs, and facilitating team production processes--did not fit the data.
WILSON is a partner in the transactional and securities practice of Foley & Lardner LLP, and regularly represents companies on corporate governance, securities law and takeover defense matters.
The company is being sued in Delaware Chancery Court by the San Antonio Fire & Police Pension Fund over the proxy puts, a form of takeover defense.
Ware, "Shareholders' Right to Review the Adoption and Continuation of a Takeover Defense Plan: Is the Fleming Decision Dead on Arrival?
A final example of the legal certainty rationale within the context of extending shareholders' rights can be found in the Supreme Court's refusal to analyze the sale of LaSalle under Dutch takeover defense doctrines.
hedge fund pulled out of the takeover of the Japanese company probably as it had judged that Bull-Dog shares have less of a chance of rising in the future as the Worcester sauce maker's financial state had deteriorated after it bought back stock warrants, issued as part of the takeover defense, from the fund for some 2 billion yen, the sources said.