People pill

(redirected from People Pills)

People pill

A form of poison pill providing that the entire management threatens to resign in the event of a takeover.

People Pill

An antitakeover measure in which the entire management of the target company agrees and publicly states that it will resign collectively if the company is taken over. A people pill, if enacted, would make the takeover more difficult and costly for the acquiring company, and therefore intends to scare away potential hostile bidders. It is a form of a poison pill.

References in periodicals archive ?

Mitchell might actually engage in these other behaviors--golden parachutes, greenmail, supermajority amendments, poison pills, people pills, lock-ups, scorched earth, and leveraged buyouts?

Mitchell coins--a bit late--the term "people pill" to refer to this strategy.

Companies have actually threatened that, if taken over, the entire contingent of upper management will quit at once (referred to as a "people pill").