shark repellent


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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.

shark repellent

A strategy used by corporations to ward off unwanted takeovers. Examples of this antitakeover measure include making a major acquisition, issuing new shares of stock or securities convertible into stock, and staggering the election of directors. Shark repellents often benefit corporate officers more than the stockholders. Also called takeover defense. Compare show stopper. See also poison pill.
References in periodicals archive ?
Its shark repellent weighs just four ounces and consists of a foil packed sachet.
Firms that had already adopted a shark repellent may be either less likely to adopt a poison pill, because the two are substitutes, or more likely, because the firm may simply adopt every takeover defense that becomes available (cf.
Brickley, Lease, and Smith, 1988, on voting patterns on shark repellent amendments).
Baldridge (1969) had demonstrated the impracticability of deterring shark attacks by waterborne chemicals, so the idea of shark repellents had lost some of its appeal.
His ingenious use of nigrosin dye ensured that our shark repellent was the only product out of 24 to achieve any success in repelling sharks when tested by the US Navy in 1967.
This innovation is the only known shark repellent suncare product and the company hopes to finish Phase III trials and launch the new sunscreen/shark repellent formulations in the 2007 suncare season.
Now the firm has supplied firefighters John Haskell and Jamie Windsor with shark repellent to use in their bid to row across the Atlantic for charity later this year.
Castro (2013) provided details of Baldridge's work on shark repellents.
We'll be undertaking autopsies, testing out various shark repellents, discovering if sharks really do mistake surfers for seals, and we'll be doing all of this surrounded by the best experts in world.
Between the pill and other shark repellents (defence strategies) that have been developed, there is no need to do a Pac-Man.
In his March 9 column, Newsweek's Allan Sloan called Marriott's bundling "unfair" and said the company "wants shareholders to approve the greatest array of shark repellents - Wall Street slang for anti-takeover defenses - this side of the Great Barrier Reef.
Sharply criticizing Wallace's corporate governance arrangements, TPM's report says that in addition to a poison pill, "The Wallace charter fairly bristles with shark repellents -- provision for a classified board, supermajority rules, bars to stockholder action via written consent, et al.