South Korea Moves To Legalize Poison Pills

Law360, New York (November 9, 2009, 12:57 PM EST) -- The South Korean Ministry of Justice on Monday reportedly unveiled a new proposal that would amend national commercial law to allow companies to adopt poison pill clauses as a defense against hostile takeover bids.

The South Korean government held a public hearing on the proposal Monday, inviting related government agencies and business interests to offer input on the poison pill amendment before it is handed off to the country's National Assembly for final approval, which could happen as soon as 2010, according to South Korea's Yonhap...
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