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Question		Answer
Staggered Board start learning		The board is divided into groups with different election years, which prevents a bidder from quickly taking control.
Supermajority start learning		Requires a high percentage (e.g., 80%) of shareholder votes to approve mergers, making takeovers more difficult.
Fair Price Provision start learning		The buyer must pay a minimum “fair” price for the shares, protecting shareholders from undervalued offers.
Restricted Voting Rights start learning		Shareholders who acquire a large stake lose their voting rights unless approved by the board.
Waiting Period start learning		Forces a delay (e.g., several years) before a merger can be completed, slowing hostile takeover efforts.
Poison Pill start learning		Allows existing shareholders to buy more shares cheaply if a takeover is attempted, diluting the buyer’s control.
Poison Put start learning		Lets bondholders demand early repayment if the company is taken over, increasing takeover costs.

Pre offer strategies defences