Which of the following actions does NOT help managers defend against a hostile takeover?
a. Establishing a
poison pill provision.
b. Granting lucrative golden parachutes to senior managers.
c. Establishing a super-majority provision in the company’s bylaws to raise the percentage of the board of directors that must approve an acquisition from 50% to 75%. d. Retiring long-term debt early to reduce total debt on the balance sheet which will increase the firm’s financial position.
e. Finding a white squire that will buy enough of the target firm’s shares to block the hostile takeover.