毒丸防御(英语:poison pill),又称“股权摊薄反收购措施”,是目标公司抵御恶意收购的一种防御措施,1982年由美国Wachtell, Lipton, Rosen & Katz律师行的并购律师马丁·利普顿(Martin Lipton)发明,在美国是经过1985年德拉瓦斯切斯利(DelawanceChancery)法院的判决才被合法化的,由于它不需要股东的直接批准就可以实施,故在八十年代后期被广泛采用。
在美国“毒丸”防御[1]仍然合法,而且很多州都有防止本地企业被外国资本收购的法律。
In America "poison pill" defences are still legal, and many states have laws that prevent local companies being bought by foreigners.
毒丸计划是应对敌意收购的最重要的防御措施之一,毒丸计划的采用对公司治理结构和公司控制权市场有着显著的影响。
As one of the most important defensive measures of hostile acquisitions, poison pill has significant impact on corporate management structure and corporate market control.
作为在敌意收购中最重要的防御措施之一,毒丸计划对公司治理结构和公司控制权市场产生显著影响。
As one of the most important defensive measures of hostile acquisitions, poison pill has significant impacts on corporate management structure and corporate market control.
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