This kind of plan can only be implemented after the merger is completed, that is, the poison pill can only be triggered by the second step of acquisition. If the acquirer acquires the shares of the target company as the first step of acquisition, then the next merger with the target company is the second step of acquisition, which means that when the acquirer acquires the controlling shares of the target company, if it does not continue to acquire the target company, the poison pill will not work
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