Lobster Trap

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Description of Lobster Trap. Explanation.

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Definition Lobster Trap. Description.


A Lobster Trap is an anti-takeover strategy whereby the target firm passes a provision preventing anyone with more than 10% ownership of convertible securities (convertible bond, convertible preferred stock, or warrant) from transferring these securities to voting stock.


Lobster Trap Forum
  The Concept of a Lobster Trap and An Example
A Lobster Trap is based on the process of acquiring securities from small stock holders and merging them into voting stock so as to prevent rival companies to take over the target firm. The etymology of the phrase comes from the idea that lobsters ar...
     
 
  Cases of Lobster Traps. Examples
Hi, do you know of a remarkable case or famous example in which a Lobster Trap anti-takeover mechanism was used? Did it work? Why (not)?
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Compare with: Anti Hostile Takeover Mechanisms  |  Voting Rights Plan  |  Staggered Board of Directors

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