释义 |
DictionarySeepoison pillLegalSeePoison PillPoison put
Poison putA covenant allowing the bondholder to demand repayment in the event of a hostile takeover.Poison-Put BondA bond that allows bondholders to redeem before maturity at a high price should certain, named events take place. These events commonly include restructuring, a leveraged buyout, an attempted hostile takeover, or paying dividends in excess of a certain amount or percentage. Poison-put bonds can act as an anti-takeover measure; they help management discourage takeovers by raising their expense. On the other hand, when the company is going through a difficult time, poison-put bonds can limit management's restructuring options for the same reason. |