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Xon Enterprises Is Attempting to Take Over Rayon Group

question 79

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Xon Enterprises is attempting to take over Rayon Group. Rayon's shareholders have the right to buy additional shares at below market price if Xon (considered by Rayon's board to be a hostile bidder) buys more than 15 percent of Rayon's outstanding shares. What term applies to this antitakeover measure?


Definitions:

Australian Dollars

Australian Dollars (AUD) is the currency used in Australia, represented symbolically as A$ or AUD.

U.S. Currency

The legal money circulated within the United States, consisting primarily of dollars and cents.

Danish Krone

The official currency of Denmark, also used in Greenland and the Faroe Islands.

U.S. Dollar

The official currency of the United States, commonly used worldwide as a benchmark currency.

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