Question：Consider the following explanation of a defensive tactic in a hostile takeover bid:
　　“An attempt to make the company unattractive by giving the right to existing shareholders to buy shares at a very low price.”
　　This explanation best describes which defensive tactic?
　　A. Poison pill
　　B. Golden parachute
　　C. Crown jewels
　　D. Pacman defence
　　The correct answer is: Poison pill.
　　A Pacman Defence is an aggressive tactic which involves mounting a counter-bid for the attacker.
　　A Golden Parachute is a large compensation payment made to top management of the target firm if their positions are eliminated due to a hostile takeover.
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