Exposing the Corporate Vampires: a Shareholders Guide to Management Entrenchment

Two and a half years after this quote huge merger deals continue to dominate the business and general press headlines. Frequently the target company seeks to thwart the takeover attempt through numerous techniques. A fundamental question remains to be answered about these takeover events: How can a shareholder assess a firms techniques for waging a takeover fight? Using a vampire analogy, the authors seek to educate shareholders, both current and prospective, about how to assess managements arsenal of entrenchment techniques and the corresponding probability that shareholder interests will not be well represented. © 1998 Elsevier Science Ltd. All rights reserved