Group Members

• Kaushik S MMS A 59

• Abhishek jaiswal MMS B 17

• Avijit Sarkar MMS B 39

• Tanima Sen MMS B 41

• Shilpa Tripathi MMS B 51

Defence Technique

Takeover defenses are intended to either prevent the transaction from taking place or to increase the offer.

– Pre-offer mechanisms are triggered by changes in control, generally making the target less attractive.

– Post-offer mechanisms tend to address ownership of shares and reduce the hostile acquirer’s power gained from its ownership interest in the target.

Types of Defence Techniques in Mergers and Acquisition

Pre-Bid

• Poison pills

• Back-end Plans

• Golden Parachutes

• Silver Parachutes

• Tin Parachutes

Post-Bid

• Greenmail

• White Knights

• Sale of Assets

About Netflix

• Founded in year 1997, California, United states• A Film rental company•Netflix is the world’s leading Internet television network with over 50 million members in nearly 50 countries• As of September 2014, Netflix has subscribers in over 40 countries

About Icahn Enterprises

• Founded in the year 1987, Headquarter in New York

• A Master limited partnership Company

• A diversified holding company engaged in nine primary business segments

• Investment, Automotive, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion.

Defence Technique used By Netflix

• Netflix takes poison pill to ward off Icahn Takeover

• Icahn already acquired 9.98% stake in Netflix

• Netflix adopted a stockholder rights plan to block a hostile takeover by the activist investor

• The plan "poison pill," would kick in if an individual or group tried to buy a sizable chunk of the company without approval from Netflix's board

• Netflix further announced that its BoD adopted a stockholder rights plan and declared a dividend distribution of one right ("Right") for each outstanding share of Netflix common stock

• The Rights Plan is intended to protect Netflix and its stockholders from efforts to obtain control of Netflix that the Board of Directors determines are not in the best interests of Netflix