Hostile Takeover | featured news

Netflix is moving to protect itself against hostile takeovers, less than a week after activist investor Carl Icahn disclosed a stake of nearly 10 percent in the online video company. Netflix Inc. said Monday that it has adopted a shareholder rights plan, also known as a poison pill. Such a plan is designed to make it difficult or even impossible for someone to take over the company without an agreement from the board. When the provision is triggered, additional shares flood the market and make it prohibitively expensive for a takeover.

Nasdaq and IntercontinentalExchange are withdrawing their proposed $11 billion bid for the parent of the New York Stock Exchange after recognizing they would not receive regulatory approval for the transaction.

French drugmaker Sanofi-Aventis launched a hostile bid for Genzyme at $69 per share on Monday, taking its $18.5 billion offer direct to shareholders after Genzyme management refused to negotiate.

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Carl Icahn again extended his tender offer for Lions Gate and eliminated his majority-control condition. The film and TV studio reiterated its rejection.

Carl Icahn's hostile attempt to take control of Lionsgate has been slow-going, so he has extended his deadline by 10 days.

One week after Lions Gate Entertainment rejected his holdings in the studio, investor Carl Icahn is launching a hostile takeover bid for the entire company.

Lions Gate urged shareholders to reject a recent tender offer from investor Carl Icahn, calling the bid for the film studio's shares inadequate and coercive.

Kraft said Tuesday that it would offer more cash in its hostile takeover bid for the British chocolate maker, using the proceeds from a sale of its frozen pizza business.

Kraft is expected to officially launch a hostile bid for Cadbury, setting in motion a tussle for control of the British confectionary firm.

The dance between Carl Icahn and Lionsgate continued Tuesday as reports surfaced that the studio hired a law firm to defend itself against what could turn into a proxy battle or hostile takeover.