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Tsakos Energy Navigation Limited Message Board

  • Tyreds_Tale Tyreds_Tale Sep 30, 2005 12:01 AM Flag

    poison pill definition

    poison pill n. Informal
    "A plan or tactic intended to make a hostile corporate takeover prohibitively expensive, as one in which a company's stockholders are offered shares of stock at a bargain price in the event that a single suitor acquires a high percentage of the stock."

    Is TNP expecting someone to buy a large amount of shares? If so, would there be a sudden offering to shareholders of a few million shares, like lets say 40 or 60 million? Does this correlate with the 40 mill TNP is about to buy? Seems like they are storing up stock, and if someone tries to takeover by buying tons of outstanding shares, TNP will sell back the 40 mill shares for cheap. Am I understanding this right?

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