A critical analysis of whether allowing directors to implement anti-takeover defences is beneficial for all corporate constituencies

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The essay investigates the implications of allowing directors to implement anti-takeover defenses, focusing on their effects on various corporate constituencies. It classifies the topic within the law and economics framework of corporate control, outlining scenarios where these defenses arise, particularly during hostile takeovers. The legal context is explored, contrasting UK and US laws, especially Delaware's extensive jurisprudence. Ultimately, the analysis reveals that while these defenses may serve directors' interests, they do not benefit all stakeholders involved in the takeover process.