[Verse 1] When hostile bidders circle around Target companies don't back down They've got arsenals hidden in their charter Poison pills make acquisition much harder Dilution weapons in their corporate vault Turn friendly deals into hostile assault [Chorus] Poison pills and staggered boards White knights riding with golden swords Crown jewels sold, golden parachutes deploy Defensive tactics they strategically employ PPSG - remember the code Poison, Parachutes, Staggered, Golden mode [Verse 2] Shareholder rights flip when triggers activate Twenty percent threshold seals the raider's fate Existing holders buy at fifty percent discount While bidder's ownership starts to miscount Board of directors spreads across three years Making swift takeovers disappear [Chorus] Poison pills and staggered boards White knights riding with golden swords Crown jewels sold, golden parachutes deploy Defensive tactics they strategically employ PPSG - remember the code Poison, Parachutes, Staggered, Golden mode [Bridge] Pac-Man defense turns hunter into prey Litigation stalls bid another day Greenmail payments buy the raiders out While lobbying creates regulatory doubt Management's job hangs in the balance These shields protect against hostile talents [Verse 3] Crown jewel lockups sell the prized assets Golden parachutes cushion executive net Supermajority votes need eighty percent Normal fifty-one gets nowhere, barely a dent Dead hand pills persist beyond board changes Making poison last through ownership ranges [Chorus] Poison pills and staggered boards White knights riding with golden swords Crown jewels sold, golden parachutes deploy Defensive tactics they strategically employ PPSG - remember the code Poison, Parachutes, Staggered, Golden mode [Outro] Delaware courts weigh the Unocal test Business judgment gets put to the rest Proportional response must match the threat Or shareholders might live to regret Takeover defenses walk the legal line Between protection and shareholder shrine
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