Nancy Reagan defense

Nancy Reagan defense

The Nancy Reagan defense is a tactic in corporate finance used to counter a takeover or merger bidder who has made a formal bid to shareholders to buy their shares. When the board of directors of the target company meets to consider the bid, they "just say no."

For example, in a discussion of a takeover of the Walt Disney Company by Comcast, analyst Andy Kessler on Wall Street Week stated "there are two great Wall Street defenses. One is the Nancy Reagan defense and the other is the Pac-Man defense, right? And the Nancy Reagan defense is, just say no."[1] The term refers to a catch-phrase coined by former United States First Lady Nancy Reagan advocating abstinence from recreational drug use.

References

  1. ^ PBS interview with Andy Kessler (2004)
  • "Hostile Tender Offers and the `Nancy Reagan Defense': May Target Boards `Just Say No'? Should They Be Allowed To?" Robert A. Prentice and John Langmore, 35 Delaware Journal of Corporate Law 377-481 (1990)

Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Nancy Reagan Defense — The Nancy Reagan Defense is a tactic in corporate finance used to counter a takeover or merger bidder who has made a formal bid to shareholders to buy their shares. When the board of directors of the target company meets to consider the bid, they …   Wikipedia

  • Nancy Reagan — First Lady Nancy Reagan in 1983 First Lady of the United States In office January 20, 1981 – January 20, 1989 Preceded by …   Wikipedia

  • Reagan — Ronald Reagan Pour les articles homonymes, voir Ronald Reagan (homonymie). Ronald Reagan …   Wikipédia en Français

  • Reagan, Ronald W. — ▪ president of United States Introduction in full  Ronald Wilson Reagan  born February 6, 1911, Tampico, Illinois, U.S. died June 5, 2004, Los Angeles, California  40th president of the United States (1981–89), noted for his conservative… …   Universalium

  • Nancy Kulp — Kulp (center) with Max Baer Jr. and Sharon Tate in The Beverly Hillbillies (1965) Born …   Wikipedia

  • Nancy McEldowney — Nancy McEldowney, 2008 Nancy E. McEldowney, a United States career diplomat, is currently Principal Deputy Assistant Secretary of State in the Bureau of European and Eurasian Affairs for the Department of State. She was United States Ambassador… …   Wikipedia

  • Ronald Reagan — Reagan redirects here. For other uses, see Reagan (disambiguation). Ronald Reagan 40th President of the United States In office …   Wikipedia

  • Reagan, Ronald Wilson — ▪ 2005       40th president (1981–89) of the United States (b. Feb. 6, 1911, Tampico, Ill. d. June 5, 2004, Los Angeles, Calif.), was a Hollywood actor who became one of the most popular presidents of the 20th century the winner of two landslide… …   Universalium

  • Ronald Reagan — Pour les articles homonymes, voir Ronald Reagan (homonymie). Ronald Reagan …   Wikipédia en Français

  • Ronald W. Reagan — Ronald Reagan Pour les articles homonymes, voir Ronald Reagan (homonymie). Ronald Reagan …   Wikipédia en Français

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”