On occasion a publicly traded company will become a "takeover target" of a "corporate raider." The normal situation is that a company is not performing well, and the raider believes the company would be worth more either with new management or by simply liquidating the assets.

Managers of a takeover target therefore typically have a lot to lose if the takeover is successful. As a result, a number of strategies have been developed to protect the interests of the incumbent managers (though not necessarily of the shareholders). These policies go by various names, including "poison pill," "poison put," and "golden parachute."

Is there a "real world" example of a takeover battle in which incumbent managers in the takeover target enact some kind of policy to protect their interests. Write an essay (approximately 1 single-spaced page in length) describing the circumstances of the takeover and analyzing it from a game theory perspective.

You do not need to be completely explicit in the sense of drawing a payoff matrix or a decision tree, but how we might view the adoption of "poison pill" type tactics as an instance of "changing the game" as discussed in the Dixit and Nalebuff book.

Thus your essay should discuss the nature of the game before the tactic is introduced and how the introduction of the tactic changes the sequence of plays, possible moves, and/or payoffs.