Publication Date

1989

Journal

Duke Law Journal

Abstract

The article argues that the legal uncertainty surrounding poison pills in corporate takeovers is not accidental but a result of deliberate strategies by judges and corporate lawyers. This uncertainty encourages negotiation between incumbent management and raiders, preventing either side from having absolute control. The analysis explores the implications of this uncertainty, particularly its impact on the balance of power and management's ability to influence takeover outcomes. It also considers whether maintaining this uncertainty is more beneficial than establishing clear legal rules regarding poison pills.

Volume

1989

Issue

1

First Page

54

Last Page

91

Publisher

Duke University School of Law

Disciplines

Law | Securities Law

Comments

Symposium--Fundamental Corporate Changes: Causes, Effects, and Legal Responses

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