poison pill
Anti-acquisition tactic
A poison pill is a defensive tactic used by a company to prevent a hostile takeover, typically by making the acquisition prohibitively expensive—such as allowing existing shareholders to buy additional stock at a discount if an outsider acquires a significant stake.
The term extends to any provision designed to make an unwanted outcome costly: They added a poison pill to the contract that would trigger massive penalties.
Benevolent takeover bidder
- dead handPosthumous control over property
- golden parachuteLucrative exit agreement
- proxy fightBattle for shareholder votes
- supermajorityVote exceeding simple majority
scorched earth · shark repellent · greenmail · board approval · dilution · antitakeover · litigation · fiduciary duty
Unwanted corporate buyout attempt
- corporate raiderHostile acquisition specialist
- black knightChess piece or medieval fighter
- activist investorStockholder seeking corporate change
- tender offerPublic share purchase proposal
acquisition · merger · bidder · target company · rebuff · resistance · encroachment · intrusion
Obstruction preventing passage
- protectionGuarding against harm
- safeguardPrecaution against harm
- fortificationStrengthening defenses or nutrients
- bulwarkDefensive fortification or safeguard
countermeasure · repellent · shield · buffer · defense mechanism · preventive measure · obstruction · impediment
Change to official text
- riderOne who mounts transport
- provisionPreparatory supply or clause
- billAmount owed, written
- filibusterDelaying tactic through speech
earmark · omnibus · legislation · committee · veto · obstruction · congressional · parliamentary
white knight
Benevolent takeover bidder
- dead handPosthumous control over property
- golden parachuteLucrative exit agreement
- proxy fightBattle for shareholder votes
supermajority · scorched earth · shark repellent · greenmail · board approval · dilution · antitakeover · litigation · fiduciary duty
hostile takeover
Unwanted corporate buyout attempt
- corporate raiderHostile acquisition specialist
- black knightChess piece or medieval fighter
- activist investorStockholder seeking corporate change
tender offer · acquisition · merger · bidder · target company · rebuff · resistance · encroachment · intrusion · bear hug
barrier
Obstruction preventing passage
- protectionGuarding against harm
- safeguardPrecaution against harm
- fortificationStrengthening defenses or nutrients
bulwark · countermeasure · repellent · shield · buffer · defense mechanism · preventive measure · obstruction · impediment · disincentive
amendment
Change to official text
filibuster · earmark · omnibus · legislation · committee · veto · obstruction · congressional · parliamentary · dealbreaker
- dirty tacticsdirty trick, dirty tricks, dirty pool, foul play, cheap shot
- M&Amerger, acquisition, takeover, hostile takeover, leveraged buyout
- Shareholder Activismshareholder activism, proxy fight, proxy vote, proxy voting, shareholder rights
- takeovershostile takeover, hostile bid, tender offer, takeover bid, corporate raider
- Wall Streetstock market, bond market, stocks, shares, Wall Street
- tricksmagic trick, card trick, card tricks, coin trick, rope trick
poison pillolive branch
Symbol of reconciliation
carrot · open door · welcome mat · sweetener · enticement
poison pillgolden ticket
Pass granting rare access
silver bullet · sweetheart deal · gift horse · olive branch · carrot