Business and Personal Finance Dictionary

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• POISON PUT
  
  A covenant allowing the bond holder to demand repayment in the event of a hostile takeover. A corporate provision to combat hostile takeovers. When triggered, the poison pill allows shareholders to acquire additional shares at below market price, thereby increasing the number of shares outstanding and making the takeover prohibitively expensive. Such plans are relatively new in corporate Canada and are the subject of some controversy regarding whom they are designed to protect
  
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