antitakeover measure

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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.

antitakeover measure

An action by a firm's management to block or halt a takeover by another party. Examples of antitakeover measures include a fairprice amendment, staggered terms of office for directors, and a requirement for an increased number of affirmative votes from shareholders to approve a takeover. See also show stopper.
References in periodicals archive ?
Using additional IRRC documents and proxy statements, I compiled data on the adoption dates of classified board, supermajority, and fair price shark repellents adopted by each of these firms from 1979 to 1989, inclusive.
In included a dummy variable to indicate whether the firm had previously adopted any of the three main types of shark repellents (i.
1986 "Golden parachutes, shark repellents, and hostile tender offers.
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.
ONR's interest in sharks was not limited to their sensory abilities and shark repellents.
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.