Cisco spits out poison pill

Cisco, the world’s biggest provider of networking hardware, has dropped a series of "poison pill" anti-takeover defences.

Cisco, the world’s biggest provider of networking hardware, has dropped a series of "poison pill" anti-takeover defences.

Poison pill defences typically impose strict guidelines about the ownership of a company and can make it much harder for a hostile takeover of a firm to succeed.

PeopleSoft’s board famously used a poison pill to fend off Oracle for months, although it succumbed to the takeover in the end.

Cisco said its move was in the interests of better corporate governance and not in response to any takeover attempt.

In the event of a takeover bid, Cisco shareholders rather than the board would have the main say on the outcome.

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