Death of the Poison Pill?


	Death of the Poison Pill?

Taylor Buley

2-24-2009 2:22 PM

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Taylor Buley says:

I'd be interested in exploring the FactSet MergerMetrics numbers around technology companies in particular. I'm not sure the Valley has done away with their poison pill contingency plans just yet.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/61a62428-7d19-44c2-a4ca-2e32a44799a4/D832D7C9-D679-40A9-917B-5DAA88C9D9D4/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blogs.wsj.com/deals/2009/02/23/the-demise-of-the-poison-pill/" href="http://blogs.wsj.com/deals/2009/02/23/the-demise-of-the-poison-pill/" style="font-size: 11px;">blogs.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/deals/2009/02/23/the-demise-of-the-poison-pill/"><P>These days, so-called poison-pill plans are about as popular as the cyanide that inspired the names. The prevalence of these M&A defenses has dropped off, though hostile deals are on the rise. There were only 1,206 such defenses in place at the end of 2008 at U.S. publicly traded companies that had been targeted for a takeover, down from 2,218 in effect at the end of 2001, according to FactSet MergerMetrics. Meantime, hostile deals have accounted for 47% of the number of M&A deals this year, compared with 24% in all of 2008 and 7% in 2004, according to FactSet. Directors of publicly traded companies have to think twice before thwarting takeovers that might promise shareholders a higher price.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D832D7C9-D679-40A9-917B-5DAA88C9D9D4/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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