Hi Sheepwash
There are a number of strategies that can be utilised in trying to avoid a hostile takeover
They are explained here:
http://en.wikipedia.org/wiki/Takeover
The techniques include the following although some don't apply so well for a junior mining company- Back-end
- Bankmail
- Crown Jewel Defense
- Flip-in
- Flip-over
- Golden Parachute
- Gray Knight
- Greenmail
- Jonestown Defense
- Killer bees
- Leveraged recapitalization
- Lobster trap
- Lock-up provision
- Macaroni Defense
- Nancy Reagan Defense
- Non-voting stock
- Pac-Man Defense
- Pension parachute
- People Pill
- Poison pill
- Poison Put
- Safe Harbor
- Scorched earth defense
- Shark Repellent
- Staggered board of directors
- Standstill agreement
- Fredo Foil
- Suicide pill
- Targeted repurchase
- Top-ups
- Treasury stock
- Trigger
- Voting plans
- White knight
Can't say that I understand them all, but they make for interesting reading. As fas as I am concerned what needs to be done is to get the share price looking respectable and to stop it from looking so ridiculously cheap (a white night buying on market wouldn't go astray) and to liaise with shareholders at every opportunity to keep them in the loop. Loyal shareholders provide a great defense.I would also like to see Directors leading by example and buying shares on market. That would help to send the right message as well. A share purchase plan at much higher levels would also help to raise funds without too much dilution and keep stock within the family.
Cheers
Nev
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