porcupine provision

Definitions of porcupine provision

1. noun

   a measure undertaken by a corporation to discourage unwanted takeover attempts
   synonyms: shark repellent

   types:

   golden parachute

   giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeover

   greenmail

   (corporation) the practice of purchasing enough shares in a firm to threaten a takeover and thereby forcing the owners to buy those shares back at a premium in order to stay in business

   pac-man strategy

   the target company defends itself by threatening to take over its acquirer

   poison pill

   the target company defends itself by making its stock less attractive to an acquirer

   safe harbor

   the target company defends itself by acquiring a company so onerously regulated that it makes the target less attractive

   scorched-earth policy

   the target company defends itself by selling off its crown jewels

   suicide pill

   a poison pill with potentially catastrophic implications for the company it is intended to protect

   type of:

   measure, step

   any maneuver made as part of progress toward a goal