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LSDefine

Simple English definitions for legal terms

porcupine provision

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A quick definition of porcupine provision:

Porcupine provision: A rule that a company makes to stop someone from taking over the company without the permission of the board of directors. It's like a shield that protects the company from being taken over by someone who wants to control it.

A more thorough explanation:

A porcupine provision is a clause in a corporation's charter or bylaws that is intended to prevent a takeover without the approval of the board of directors. This provision is designed to make the company less attractive to potential acquirers and to give the board more control over the company's future.

One example of a porcupine provision is a requirement that a certain percentage of shareholders must approve any takeover bid. For example, a company might require that at least 75% of shareholders must approve a takeover before it can go through. This makes it much more difficult for a potential acquirer to gain control of the company.

Another example of a porcupine provision is a requirement that the board of directors must approve any sale of the company's assets. This prevents a potential acquirer from buying up the company's assets piecemeal, which would make it easier to gain control of the company.

These examples illustrate how porcupine provisions can be used to protect a company from hostile takeovers. By making it more difficult for potential acquirers to gain control of the company, these provisions give the board of directors more control over the company's future.

popular sovereignty | pork-barrel legislation

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triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
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