{"id":501,"date":"2009-12-20T12:49:37","date_gmt":"2009-12-20T12:49:37","guid":{"rendered":"http:\/\/www.moreiramenezes.com.br\/publicacao\/dispersao-acionaria-tomada-hostil-de-controle-e-poison-pills-breves-reflexoes-2\/"},"modified":"2022-03-18T13:39:27","modified_gmt":"2022-03-18T13:39:27","slug":"dispersed-shareholding-hostile-takeovers-and-control-of-poison-pills-brief-reflections","status":"publish","type":"post","link":"http:\/\/moreiramenezes.com.br\/en\/dispersed-shareholding-hostile-takeovers-and-control-of-poison-pills-brief-reflections\/","title":{"rendered":"Dispersed shareholding, hostile takeovers and control of poison pills: Brief reflections"},"content":{"rendered":"<p>The objective of this paper is to analyze one of the possible effects of dispersed shareholding: hostile takeovers and the use of so-called poison pill defense mechanisms. For this, I study the phenomenon of dispersed shareholding, the possible forms of controlling companies with this type of ownership structure, public tender offers to acquire control of listed companies, and after a brief description of the most famous and extreme type of protection mechanism against hostile takeovers \u2014 the shark repellent \u2014 I examine the less extreme poison pill mechanism as used in Brazil in detail. In this respect, I explain the differences between the original concept of poison pills as developed in the United States and way this mechanism is being used in Brazil. I also analyze the diffusion and the main discussions on the use of this mechanism in the Brazilian capital market.<\/p>\n<p><a href=\"https:\/\/moreiramenezes.com.br\/wp-content\/uploads\/2014\/12\/Artigo-Poison-Pills-RSDE-n%C2%B0-5.pdf\" target=\"_blank\" rel=\"noopener\">Click to access the full content<\/a><\/p>\n<p class=\"p1\"><span class=\"s1\"><i>C<\/i><\/span><i>arlos Martins Neto<\/i><\/p>","protected":false},"excerpt":{"rendered":"<p>The objective of this paper is to analyze one of the possible effects of dispersed shareholding: hostile takeovers and the use of so-called poison pill defense mechanisms. For this, I study the phenomenon of dispersed shareholding, the possible forms of controlling companies with this type of ownership structure, public tender offers to acquire control of [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-501","post","type-post","status-publish","format-standard","hentry","category-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dispersed shareholding, hostile takeovers and control of poison pills: Brief reflections - Moreira Menezes Martins<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/moreiramenezes.com.br\/en\/dispersed-shareholding-hostile-takeovers-and-control-of-poison-pills-brief-reflections\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dispersed shareholding, hostile takeovers and control of poison pills: Brief reflections - Moreira Menezes Martins\" \/>\n<meta property=\"og:description\" content=\"The objective of this paper is to analyze one of the possible effects of dispersed shareholding: hostile takeovers and the use of so-called poison pill defense mechanisms. 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