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Poison Pills: Developing A Canadian Regulatory And Judicial Response, Jody W. Forsyth
Poison Pills: Developing A Canadian Regulatory And Judicial Response, Jody W. Forsyth
Dalhousie Law Journal
It is trite to say that the United States has witnessed an explosion of hostile take-over activity in recent years. Potential acquirers have employed both non-coercive techniques such as conditional bids and proxy solicitations, and coercive techniques such as "street sweeps' 4 and two-tier, front-end loaded bids.5 In response, target corporations have fought back with a wide variety of" defences designed to defeat any undesired take-over attempt. One of the most widely contested of these defences is the shareholder rights plan, or "poison pill" as it is better known.