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anti-takeover defense |
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the media conglomerate controlled by Rupert Murdoch, has reached a settlement with a group of shareholders who sued the company over its handling of a ``poison pill'' anti-takeover defense. Los Angeles-based Shearson financial consultant William Lappas said the high dividend serves as an anti-takeover defense. Liberation commented, "Bally's attempted use of its 'poison pill' - an anti-takeover defense - as a club to beat down shareholders intent on engaging in a legitimate expression of shareholder democracy is brazen and unprecedented. |
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