crown jewel option

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A form of poison pill in which a company, defending itself against an unwanted takeover bid, writes an option that would allow a partner or other friendly company to acquire one or more of its best businesses or assets at an advantageous price if control of the defending company is lost to the unwelcome predator. The granting of such an option may not always be in the best interests of the shareholders of the defending company.

Subjects: Economics.

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