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Dead Hand Provision
What does it mean?
A stipulation on a defense mechanism or poison pill used by companies in order to protect against a merger or takeover by another company. The dead hand provision prevents the removal of the poison pill even if shareholders of the target company favor the takeover.
In Other Words...
A dead hand provision states that only the original directors who put the provision into place can dismantle the pill, so any new directors are prevented from interfering.
Related Links
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Related Terms
Board of Directors - BOD | Poison Pill | Proxy Fight | Share Purchase Right | Shark Repellent | Takeover
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