What is ANTI-TAKEOVER DEFENSE?

A legal or structural tactic adopted by a company in order to protect it from being acquired by another company. Defenses may be used in conjunction with, or as a substitute for, ANTITAKEOVER LAWS. Also known as PORCUPINE PROVISION, SHARK REPELLENT. See also BLANK CHECK PREFERRED, POISON PILL, SCORCHED EARTH DEFENSE, STAGGERED BOARD.

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