forced merger raider additional repurchase takeover Term Definition Crown Jewel When threatened with a takeover, management makes the company less attractive to the by selling the company's most valuable asset (the crown jewel") to a third party Golden Parachute A departing high-level manager's parachute will be 'golden when he or she is - to "bail out of the company. Greenmail To regain control, a target company may pay a higher than market price to all of the stock that the acquiring corporation bought Pac-Man This is an aggressive defense in which the target corporation attempts its own of the acquiring corporation. Poison Pill The target corporation issues to its stockholders rights to purchase shares at low prices when there is a takeover attempt. White Knight The target corporation solicits a with a third party, which then makes a better (often simply a higher) tender offer to the target's shareholders. The third party that rescues the target is the "white knight