| Macaroni
Defense |
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An
approach taken by a company that does not want to be taken over. The
company issues a large number of bonds with the condition they must
be redeemed at a high price if the company is taken over.
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Why
is it called Macaroni Defense? Because if a company is in danger,
the redemption price of the bonds expands like Macaroni in a pot!
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Dictionary
