Jonestown Defense
From Wikipedia, the free encyclopedia
The Jonestown defense is an extreme corporation defense against hostile takeovers. In this strategy, the target firm engages in tactics that might threaten the firm’s existence to thwart an imposing acquirer’s bids. This is also known as a “suicide pill”, and is an extreme version of the poison pill.
The term refers to the 1978 Jonestown mass suicide in Guyana, where Jim Jones led the members of the Peoples Temple (a religious cult) to kill themselves.
