Corporate
Nov. 9, 2012
Netflix's poison pill spurs biased rebuttal by Icahn
Earlier this week, Netflix Inc. responded to famed activist investor Carl Icahn's takeover attempt by adopting a poison pill without shareholder approval. The strategy is controversial among lawyers.
Daily Journal Staff Writer
Earlier this week, Netflix Inc. responded to famed activist investor Carl Icahn's takeover attempt by adopting a poison pill without shareholder approval. A poison pill devalues the company by increasing the number of shares held by every shareholder except the proposed purchaser.
Icahn described the defensive move as "poor corporate governance" in a Securities and Exchange Commission fili...
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