Dead-hand-poison-pill meaning

A technique used to fight unwanted takeover attempts that dilutes the stock holdings of an unwanted acquirer. The dead-hand poison pill allows only members of the board of directors who were on the board of directors when the poison pill provision was enacted, or their successors, to redeem the poison pill rights, which gives them the rights to additional shares of stock and makes it that much harder for the unwanted acquirer to gain control of the company. It is a controversial provision that has been challenged in some states.
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