- "Just Say No" Defense
A strategy used by corporations to discourage hostile takeovers in which board members reject a takeover bid outright. The legality of a just say no defense may depend on whether the target company has a long-term strategy that it is pursuing, which can include a merger with a firm other than the one making the takeover bid, or if the takeover bid simply undervalues the company.
A just say no defense isn't necessarily in the best interest of shareholders, since board members can employ it even if an offer is made at a significant premium to the current share price.
The case of Paramount Communications vs. Time, Inc. helped establish the just say no defense as a viable anti-takeover strategy. In the case, Time, Inc. was set to merge with Warner Communications, but received a bid from Paramount that its board rejected because there was a long-term plan.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Nancy Reagan Defense — The Nancy Reagan Defense is a tactic in corporate finance used to counter a takeover or merger bidder who has made a formal bid to shareholders to buy their shares. When the board of directors of the target company meets to consider the bid, they … Wikipedia
Nancy Reagan defense — The Nancy Reagan defense is a tactic in corporate finance used to counter a takeover or merger bidder who has made a formal bid to shareholders to buy their shares. When the board of directors of the target company meets to consider the bid, they … Wikipedia
Political positions of John McCain — U.S. Senator John McCain (R AZ), a member of the U.S. Congress since 1983, a two time U.S. presidential candidate, and the nominee of the Republican Party in the 2008 U.S. Presidential election, has taken positions on many political issues… … Wikipedia
Scandale du Watergate — Le complexe immobilier du Watergate, abritant appartements de luxe, bureaux et hôtels. Le scandale du Watergate est une affaire d espionnage politique qui aboutit, en 1974, à la démission du président des États Unis Richard Nixon. L affaire… … Wikipédia en Français
Congressional response to the NSA warrantless surveillance program — Congressional inquiries and investigations Three days after news broke about the Terrorist Surveillance Program, a bipartisan group of Senators Democrats Dianne Feinstein of California, Carl Levin of Michigan, Ron Wyden of Oregon and Republicans… … Wikipedia
Political positions of Mike Huckabee — Mike Huckabee is the former Governor of Arkansas (1996 2007) and was an unsuccessful candidate for the Republican Party nomination for President of the United States in the 2008 presidential election. ocial issuesAbortionMike Huckabee is strongly … Wikipedia
Ronald Reagan — Reagan redirects here. For other uses, see Reagan (disambiguation). Ronald Reagan 40th President of the United States In office … Wikipedia
War on Drugs — For other uses, see War on Drugs (disambiguation). As part of the War on Drugs , the U.S. gives hundreds of millions of dollars per year of military aid to Colombia, which is used to combat leftist guerrilla groups such as FARC, who have been… … Wikipedia
Domestic policy of the Ronald Reagan administration — President Ronald Reagan The Domestic policy of the Ronald Reagan administration was the domestic policy in the United States from 1981 to 1989 under President Ronald Reagan. It retained conservative values economically, beginning with the… … Wikipedia
Jack Kemp — Infobox Officeholder name = Jack Kemp, Jr. imagesize = 200px small caption = order = 1996 Republican Vice Presidential nominee term start =August 16, 1996 term end =November 5, 1996 runningmate = Bob Dole opponent = Bill Clinton/Al Gore… … Wikipedia