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Technology Stocks : American Power Conversion
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To: dogfish who wrote (2228)9/4/1999 9:27:00 PM
From: BWAC  Read Replies (1) of 2574
 
<if anyone has a different understanding of this i would like to hear it please.>

As far as Poison Pills go, they are all show and no go. They really amount to no more than a bargaining chip. If any company really wanted APCC then all they would have to do is:
1.) Make a hostile public offer directly to the shareholders.
2.) Then the APCC Board of Directors would say that they were going to enact the pill provisions.
3.) Then the Offering company would say good go ahead, we'll have a shareholder vote on replacing the current BOD. And then once we have control of the BOD we'll throw the pill out.
4.) Then the real negotiation starts. Since the BOD knows the stockholders will side with whoever shows the money.

Example: See VLSI.
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