porcupine provision

Thesaurus

Noun

1.porcupine provision - a measure undertaken by a corporation to discourage unwanted takeover attemptsshark repellentmeasure, step - any maneuver made as part of progress toward a goal; "the situation called for strong measures"; "the police took steps to reduce crime"golden parachute - giving top executives lucrative benefits that must be paid by the acquirer if they are discharged after a takeovergreenmail - (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 businesspac-man strategy - the target company defends itself by threatening to take over its acquirerpoison pill - the target company defends itself by making its stock less attractive to an acquirersafe harbor - the target company defends itself by acquiring a company so onerously regulated that it makes the target less attractive; "the acquisition gave the company a safe harbor"scorched-earth policy - the target company defends itself by selling off its crown jewels

Porcupine provision

Often used in risk arbitrage. See: Shark repellent.

Antitakeover Measure

Periodic or continual measures a firm's management takes to discourage unwanted or hostile takeovers. One example of an antitakeover measure is the macaroni defense, in which the company issues a large number of bonds with the proviso that they must be redeemed at a high price if the company is taken over. See also: Shark Watcher.

porcupine provision

Porcupine provision