Cohu, Inc. (COHU) Message Board

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Technology Stocks : Cohu, Inc. (COHU)

COHU 30.84

+6.6%

3:59 PM EST

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To: Maurice S. Green who wrote (76)	11/20/1996 1:29:00 PM
From: Rick Slemmer	of 7840

You may be right: where there's smoke, there's fire. However, I worked for Grumman (now Northrop Grumman) in 1980 when LTV tried a hostile takeover. It failed, but Grumman adopted a "poison pill" defense to preclude a second attempt. The provisions of the poison pill were similar to Cohu's. There were no takeover attempts while the poison pill was in effect, and a little-noticed press release came out ten years later stating that the pill had expired. Two years later, Northrop made a successful bid, forcing the stock price from $40 to almost $62 in a bidding war with Martin Marietta. Bottom line: it's not the poison pill that's the clue, it's the expiration and the search for a suitor we have to watch out for. RS

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