Netflix Adopts Poison Pill To Ward Off Icahn Takeover

Law360, New York (November 5, 2012, 3:17 PM EST) -- Online video streaming company Netflix Inc. has adopted a new stockholder plan designed to thwart the takeover efforts of activist investor Carl Icahn by making any potential merger far more expensive, Netflix announced Monday.

The new plan has a so-called poison pill, designed to kick in when an individual or group tries to acquire a sizable minority of Netflix stock. The Los Gatos, Calif.-based company would then be able to use a technical securities maneuver to flood the market with new Netflix shares, diluting the hostile...
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