As a variation of the poison pill defense, the people pill is an anti-takeover defense under which the current management team of the target company threatens to quit en masse in the event of a successful hostile takeover.
The effectiveness of a people pill is dependent on the circumstances of the takeover. If the management team is efficient, the company will be left without experienced leadership following a takeover. On the other hand, a great number of takeovers are the result of inefficient leadership in which management will be fired anyway; the people pill will be ineffective in this situation.
Famous quotes containing the words people and/or pill:
“Usually, when people talk about the “strength” of black women they are referring to the way in which they perceive black women coping with oppression. They ignore the reality that to be strong in the face of oppression is not the same as overcoming oppression, that endurance is not to be confused with transformation.”
—bell hooks (b. c. 1955)
“Andrews: Do you mind if I ask a question frankly? Do you love my daughter?
Peter: Any guy that’d fall in love with your daughter ought to have his head examined.
Andrews: Now that’s an evasion.
Peter: She grabbed herself a perfect running mate. King Westley! The pill of the century. What she needs is a guy that’d take a sock at her once a day, whether it’s coming to her or not.”
—Robert Riskin (1897–1955)