9 J. Bus. Entrepreneurship & L. 1 (2015)

handle is hein.journals/jbelw9 and id is 1 raw text is: 











      POISON PILLS: RECENT NEGATIVE

        ECONOMIC EFFECTS JUSTIFY

          REPEALING THE RELATED

      LEGISLATION AND INCREASING

  SHAREHOLDER OWNERSHIP RIGHTS



                        WILTON  ROBINSON-

I. Introduction     .................................... .............. 1
II. Background       ................................... .......... 4
    A. Brief History of Hostile Takeovers and Related Regulations...........4
         1. Hostile Takeover Overview .................. .........4
         2. New Delaware Fiduciary Doctrines ........... ..........5
    B. Negative Impact on Market Participants      .....................5
         1. Tension Between the Raiders and the Business Roundtable ......... 6
         2. Recent Negative Impact............... ..............7
III. Analysis..............................................12
    A. Poison Pills Provide Boards Too Much Control.        ...............12
         1. Executive Compensation............................14
         2. Politicians as Fiduciaries.............................15
    B. Remedying the Problem: Reeling in the Power.        ................17
         1. Statutory Regimes................................17
         2. Shareholder Voting .................................18
IV. Conclusion.............................................20



                          I. INTRODUCTION

     The hostile takeover regulatory regime has evolved in response to proxy




     Wilton Robinson holds a Tax L-L.M., completed in May 2015. He also holds a Juris Doctor
and a Bachelor of Science in Accountancy and Business Administration, Honors in
Business. Robinson currently teaches undergraduate Accounting at Pepperdine University's Seaver
College.

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