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Netflix Adopts Poison Pill To Avert Any Takeovers

  • Bloomberg, Tuesday, November 6, 2012 3:34 PM

Netflix's board took steps to ward off a hostile corporate takeover by setting up a "poison pill" plan that would be"triggered if an 'activist shareholder' acquired 10 percent of the stock, or an institutional investor bought 20 percent, Jonathan Friedland, a company spokesman," told writer Cliff Edwards. Corporate big gun Carl Icahn had previously said "he holds stock and options representing 5.54 million shares and that the video service is an attractive target for larger companies," though "Netflix has received no takeover offer and has had no discussions with Icahn."

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