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.
Brickley, Lease, and Smith, 1988, on voting patterns on shark repellent amendments).
Thus, the number of adoptions in a firm's industry and among a firm's interlock partners was measured as of the beginning of each quarter (spell); the financial measures (market value, market return, market-to-book ratio) and the shark repellent indicator were measured annually and lagged one year; presence of a golden parachute was measured for 1984, 1986, and 1987; and the other independent measures were assumed to be constant over the sample period.
Because the shark hazard was perceived as more of a morale or perception problem than a real problem, the Navy tried other solutions while the shark repellent was being developed.
In his excellent review of the shark repellent problem, Baldridge (1990), referred to "Shark Chaser" as "a useful psychological crutch for the times." That is all it was, but its creation marked the beginning of research into the sensory biology and behavior of sharks.
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.
Jonathan Delf, the firm's marine sales manager, said: "The shark repellent dye contains a chemical that repels and disorientates sharks.
In April of 1958, a conference titled "Basic Research Approaches to the Development of Shark Repellents" was held in New Orleans, sponsored by the American In stitute of Biological Sciences (AIBS) and Tulane University, and funded by the Office of Naval Research (ONR) and the Bureau of Aeronautics.
Then, in June 1958, the AIBS Shark Research Panel was established to "1) expedite and activate recommendations formulated at the ONR sponsored conference on Basic Research Approaches to the Development of Shark Repellents and 2) to serve as clearing house for all information related to the field of elasmobranch biology in general and to the shark hazard problem in particular" (Olive, 1971).
Anti-takeover tactics, known as "shark repellents," are now commonly used by corporate managements, including staggered terms of board members, extensive parachute" pacts, "poison pill" defenses, and creation of different classes of shareholders.
'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.