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Lobster TrapKnowledge Center |
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What is a Lobster Trap? Meaning.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.
Compare with: Anti Hostile Takeover Mechanisms | Voting Rights Plan | Staggered Board of Directors |
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