April 7, 2011
Lately, poison pills have been all the rage (in part because of the Airgas decision in Delaware). Iron Mountain–a document retention company–has recently adopted a pill after a hedge fund, Elliott Management, pushed Iron Mountain to convert itself into a Real Estate Investment Trust (REIT). Under the poison pill’s terms, if any investor acquires more […]
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March 8, 2011
After the Airgas/Air Products poison pill was upheld, the Delaware Supreme Court’s recent decision provided even more support for for a board of directors to use a poison pill to curb a hostile takeover. In a one-page order, the Delaware Supreme Court affirmed Vice Chancellor Strine’s post-trial opinion in Yucaipa American Alliance Fund II, L.P. […]
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