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Archer Corporation (Archer) attempted to take over Bullseye Corporation (Bullseye) using a tender offer. The tender offer price was twice the market price for Bullseye
Archer Corporation (Archer) attempted to take over Bullseye Corporation (Bullseye) using a tender offer. The tender offer price was twice the market price for Bullseye shares. As a defense to this, Bullseye proposed to buy its shares owned by Archer at triple the market price if Archer agreed not to purchase any more Bullseye shares for the next five (5) years. What is this kind of tender offer defense called
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