Perspective
Aug. 18, 2015
Eternal sunshine of the corporate legacy
Public companies increasingly have shed takeover defenses in recent years, on the theory that such defenses reduce share price. So why do so many companies going public today have them, pre-IPO? By Andrew A. Schwartz
Public companies increasingly have shed takeover defenses in recent years, on the
theory that such defenses reduce share price. Yet most companies going public today
have powerful takeover defenses in place - which presumably depresses share prices.
So why would companies engage in this seemingly counterproductive behavior?
Surprisingly, Homer's "Iliad"...
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